Advertisement
Advertisement
Gold, Silver, Platinum Forecasts – Gold Remains Under Pressure As Dollar Tests New Highs
By:
Key Points:
- Gold settled near the $2610 level as traders focused on the strength of the American currency.
- Silver moved lower as pullback continued.
- Platinum made an attempt to settle below the $940 level.
Gold
Gold remains under pressure as traders focus on the strength of the U.S. dollar and rising Treasury yields.
If gold declines below the support at $2580 – $2590, it will head towards the next support level, which is located in the $2520 – $2530 range.
Silver
Silver moved lower as traders focused on the dynamics of the U.S. dollar and the pullback in gold markets.
If silver manages to settle below the $30.00 level, it will head towards the 50 MA at $29.58.
Platinum
Platinum tested new lows amid broad pullback in precious metals markets.
RSI remains in the moderate territory, so there is enough room to gain additional downside momentum in case the right catalysts emerge.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
Advertisement