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Gold, Silver, Platinum Forecasts – Gold Tests Historic Highs Despite Rising Treasury Yields
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Key Points:
- Gold is trying to settle above the $2700 level.
- Silver moved lower as gold/silver ratio climbed above 85.
- Platinum did not manage to settle above the $1000 level.
Gold
Gold tests new highs as traders remain bullish despite strong dollar and rising Treasury yields.
RSI is in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.
Silver
Silver pulled back despite the rally in the gold markets as gold/silver ratio climbed above the 85.00 level.
From the technical point of view, silver needs to settle above the resistance at $31.45 – $31.75 to gain additional upside momentum.
Platinum
Platinum made an attempt to settle above the $1000 level but lost momentum and pulled back.
If platinum declines below the $975 level, it will move towards the 50 MA at $961.
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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