Gold, Silver, Platinum Forecasts – Gold Tests New Highs As Bullish Sentiment Prevails

Gold

Gold tests new highs as the strong rally continues. Traders focus on the upcoming U.S. elections, which is bullish for the safe-haven gold.

From the technical point of view, gold settled above the resistance at $2750 – $2760 and is moving towards the $2800 level.

Silver

Silver is losing ground as gold/silver ratio climbed back above the  82.00 level.

Silver did not manage to settle above the resistance at $34.00 – $34.25. In case silver pulls back below the $33.00 level, it may gain significant downside momentum.

Platinum

Platinum retreats as traders focus on the strong pullback in palladium markets, which are down by 5%.

If platinum stays below the $1020 level, it will head towards the support level at $975 – $985.

For a look at all of today’s economic events, check out our economic calendar.