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Gold, Silver, Platinum Forecasts – Gold Tests The $2400 Level
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Key Points:
- Gold gains ground as traders bet on strong demand from central banks.
- Silver settled above the $30.00 level as gold/silver ratio pulled back towards 78.
- Platinum continues its attempts to settle above the $1080 level.
In this article:
Gold
Gold is trying to settle above the $2400 level as traders focus on strong demand from central banks.
A successful test of the resistance at $2400 will open the way to the test of the $2450 level.
Silver
Silver tests multi-year highs as gold/silver ratio pulled back towards the 78.00 level.
The nearest resistance level for silver is located in the $30.90 – $31.20 range. In case silver settles above $31.20, it will move towards the next resistance at $33.50 – $34.50.
Platinum
Platinum tests new highs amid a broad rally in precious metals markets.
In case platinum settles above the resistance at $1070 – $1080, it will head towards the next resistance level at $1130 – $1140.
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 and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.
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