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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Attempts To Rebound As Dollar Pulls Back
By:
Key Points:
- Gold is trying to climb back above the $3350 level.
- Silver gained ground as gold/silver ratio declined towards the 88.00 level.
- Platinum made an attempt to settle above the $1350 level.
Gold
Gold stabilized after yesterday’s sell-off. Interestingly, dollar’s pullback did not provide material support to gold markets.
In case gold settles below the $3350 level, it will move towards the support at $3275 – $3285.
Silver
Silver rebounded towards the $38.00 level as gold/silver ratio pulled back towards 88.00.
A move above $38.00 will push silver towards recent highs near the $38.50 level.
Platinum
Platinum tests resistance at $1345 – $1350 as traders focus on U.S. dollar’s pullback, which was triggered by inflation data.
In case this test is successful, platinum will move towards the resistance at $1400 – $1405.
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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