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Gold, Silver, Platinum Forecasts – Gold Retreats As Traders Take Profits After Rally
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Key Points:
- Gold is losing ground amid profit-taking.
- Silver managed to rebound from session lows and settled near the $32.20 level.
- Platinum continued its attempts to settle above the $1010 level.
Gold
Gold pulls back from historic highs as traders take some profits off the table after the strong rally.
In case gold settles below the $2830 level, it will head towards the nearest support, which is located in the $2780 – $2790 range.
Silver
Silver made an attempt to settle back below the $32.00 level but lost momentum and rebounded towards the $32.20 level.
A move above $32.50 will push silver towards the nearest resistance at $32.75 – $33.00.
Platinum
Platinum continues to move higher as the rebound continues despite stronger dollar and rising Treasury yields.
If platinum settles above the $1015 level, it will move towards the resistance at $1025 – $1030.
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.
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