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Gold, Silver, Platinum Forecasts – Gold Tested The $3300 Level
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Key Points:
- Gold is losing ground as traders wait for additional positive catalysts.
- Silver remains stuck near the $33.00 level.
- Platinum pulled back towards the $970 level.
Gold
Gold remains stuck below the resistance at $3350 – $3360 as U.S. dollar attempts to rebound against a broad basket of currencies.
If gold settles below the $3300 level, it will move towards the nearest support at $3235 – $3245.
Silver
Silver is flat as gold/silver ratio declined towards the psychologically important 100.00 level.
If silver pulls back below the 50 MA at $32.66, it will head towards the support at $31.45 – $31.75.
Platinum
Platinum is losing ground as traders take profits after the recent move. Palladium is down by 1.5%, which is bearish for platinum.
If platinum moves back below the $960 level, it will head towards the support at $930 – $935.
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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