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Gold, Silver, Platinum Forecasts – Gold Tests Weekly Highs
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Key Points:
- Gold attempts to settle above the key resistance at $2930 - $2940.
- Silver managed to climb above the $33.00 level.
- Platinum is heading towards the psycholigically important $1000 level.
Gold
Gold gains ground as traders focus on U.S. inflation reports, which showed that Inflation Rate declined to 2.8% in February.
A successful test of the resistance at $2930 – $2940 will open the way to the test of the $3000 level.
Silver
Silver moved above the $33.00 level as gold/silver ratio settled below the 88.50 level.
In case silver climbs above $33.50, it will head towards the next resistance at $34.60 – $34.85.
Platinum
Platinum tests new highs amid rising demand for precious metals. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.
A move above the $1000 level will push platinum towards the resistance at $1015 – $1020.
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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