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Gold, Silver, Platinum Forecasts – Gold Tests Historic Highs
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Key Points:
- Gold moved above the $2220 level as the rally continued.
- Silver rebounded towards $25.00.
- Platinum moved towards the $910 level as demand for precious metals increased.
Gold
Gold tested new highs as the rally continued. Treasury yields are moving higher, but demand for gold stays strong.
RSI is in the overbought territory, but there is enough room to gain additional upside momentum in the near term.
Silver
Silver moved towards the $25.00 level as silver traders focused on the strong rally in gold markets.
A move above the $25.00 level will push silver towards the resistance at $25.75 – $26.00.
Platinum
Platinum gains ground amid a broad rally in commodity markets. From a big picture point of view, platinum stays range-bound.
In case platinum settles above the $910 level, it will head towards the resistance at $925 – $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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