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Gold, Silver, Platinum Forecasts – Gold Tests Historic Highs As Rally Continues
By:
Key Points:
- Gold rallies, supported by Fed policy outlook.
- Silver continues its attempts to settle above the resistance at $31.45 - $31.75.
- Platinum did not manage to settle above the $990 level and pulled back.
Gold
Gold tests historic highs as traders stay focused on dovish Fed policy outlook, which is bullish for precious metals.
RSI has recently moved into the overbought territory, but there is enough room to gain momentum in the near term.
Silver
Silver is trying to settle above the strong resistance at $31.45 – $31.75 as traders focus on the strong performance of gold markets.
A move above $31.75 will provide silver with an opportunity to gain strong upside momentum.
Platinum
Platinum is losing ground after an unsuccessful attempt to settle above the $990 level.
If platinum pulls back below $970, it will head towards the 50 MA at $950.
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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