Advertisement
Advertisement
Gold, Silver, Platinum Forecasts – Gold Tested New Highs
By:
Key Points:
- Gold continues its attempts to settle above the resistance at $2930 - $2940.
- Silver moved lower as gold/silver ratio climbed above the 91 level.
- Platinum found itself under strong pressure and moved below the $970 level.
Gold
Gold remains stuck near the resistance at $2930 – $2940 as traders continue to take profits off the table near historic highs.
If gold moves below the $2920 level, it will head towards the nearest support, which is located in the $2870 – $2880 range.
Silver
Silver declined below the $32.50 level as gold/silver ratio climbed above the 91 level.
A move below $32.00 will push silver towards the nearest support level, which is located in the $31.45 – $31.75 range.
Platinum
Platinum tests new lows as traders react to the strong sell-off in palladium markets, which are down by 3.4%.
If platinum settles below the 50 MA at $964, it will head towards the support 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.
Advertisement