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Gold, Silver, Platinum Forecasts – Gold Tests $2745 As Rally Continues
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Key Points:
- Gold tests historic highs as traders stay bullish.
- Silver tests multi-year highs, supported by rising demand for precious metals.
- Platinum is trying to climb above the resistance at $1020 - $1030.
Gold
Gold tests historic highs as demand stays strong despite rising Treasury yields and strong dollar.
RSI is in the overbought territory but there is enough room to gain additional momentum in the near term.
Silver
Silver moved above the resistance at $34.00 – $34.25 and tested multi-year highs as gold/silver ratio pulled back below the 79.00 level.
A move above the $35.00 level will provide silver with an opportunity to gain additional upside momentum.
Platinum
Platinum tests resistance at $1020 – $1030 amid broad rally in precious metals markets.
In case this test is successful, platinum will head towards the next resistance at $1080 – $1090.
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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