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Gold, Silver, Platinum Forecasts – Gold Tests Historic Highs Amid Trade Wars
By:
Key Points:
- Gold gains ground amid rising demand for safe-haven assets.
- Silver climbed above the $34.00 level.
- Platinum tests resistance at $980 - $985.
Gold
Gold tests key resistance at $3050 – $3060 as demand for precious metals stays strong amid trade wars.
A move above the $3060 level will push gold towards the $3100 level. RSI is close to the overbought territory, but there is enough room to gain additional upside momentum in the near term.
Silver
Silver tests new highs as gold/silver ratio pulled back towards the 89.00 level.
From the technical point of view, silver is heading towards the strong resistance level at $34.60 – $34.75.
Platinum
Platinum rebounds amid broad rally in precious metals markets. Palladium markets are up by 1.3%, which is bullish for platinum.
A successful test of the resistance at $980 – $985 will push platinum towards the next resistance level at $1015 – $1020.
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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