Gold, Silver, Platinum Forecasts – Gold Soars 2.2% As Traders Prepare For Fed Decision

Gold

Gold gains ground as traders prepare for Fed Interest Rate Decision, which will be released on Wednesday.

If gold stays above the $3300 level, it will head towards the nearest resistance, which is located in the $3350 – $3360 range.

Silver

Silver moved higher as traders focused on the strong performance of gold markets.

However, gold/silver ratio climbed towards the 102.50 level, so it remains to be seen whether silver manages to gain sustainable upside momentum.

Platinum

Platinum is moving lower amid demand concerns. Palladium is down by 1.7%, which is bearish for platinum markets.

In case platinum settles below the $950 level, it will move towards the nearest support at $930 – $935.

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