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Gold, Silver, Platinum Forecasts – Gold Stays Range-Bound Despite Dollar’s Pullback
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Key Points:
- Gold is stuck in a range between $2900 and $2930.
- Silver is under pressure as gold/silver ratio moved back above the 90 level.
- Platinum pulled back amid profit-taking.
Gold
Gold is stuck in a range as traders react to U.S. job market data. U.S. dollar’s pullback did not provide material support to gold markets today.
A move below the $2900 level will push gold towards the support level at $2870 – $2880.
Silver
Silver is losing ground as gold/silver ratio climbed back above the 90.00 level.
If silver declines below the $32.00 level, it will head towards the nearest support levle at $31.45 – $31.75.
Platinum
Platinum moved lower as traders took some profits off the table after the recent rebound.
A move below the $960 level will open the way to the test of the support level at $935 – $940.
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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