Gold, Silver, Platinum Forecasts – Gold Tests The $1930 Level As Dollar Pulls Back

Key Insights

• Gold gains ground as the U.S. dollar retreats from multi-month highs.
• Silver surpasses $23.00, benefiting from the broader precious metals rebound.
• Platinum tests $925 – $935 resistance, driven by hopes of a strong rebound.

Gold

Gold gained ground as U.S. dollar pulled back from multi-month highs. Rising demand for precious metals provided additional support to gold markets.

From the technical point of view, gold needs to settle above the resistance at $1935 – $1940 to have a chance to gain sustainable upside momentum.

Silver

Silver moved above the $23.00 level amid a broad rebound in precious metals markets. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum.

In case silver settles above the 200 MA at $23.50, it will head towards the resistance at $24.25 – $24.50.

Platinum

Platinum tested the resistance at $925 – $935 as traders bet that on the strong rebound towards the recent highs.

In case platinum manages to settle above $935, it will head towards the resistance at $975 – $985.

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