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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Attempts To Rebound As Treasury Yields Fall
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Key Points:
- Gold is trying to settle back above the $3300 level.
- Silver pulled back towards the $36.50 level as gold/silver ratio climbed towards 90.00.
- Platinum moved below the $1300 level as pullback continued.
Gold
Gold attempts to rebound after the recent pullback. Treasury yields are moving lower, providing some support to gold markets.
In case gold manages to settle back above the $3300 level, it will head towards the resistance at $3350 – $3360.
Silver
Silver tested new lows as gold/silver ratio rallied towards the psychologically important 90.00 level.
If silver settles below the 50 MA at $36.46, it will head towards the support level at $35.65 – $35.85.
Platinum
Platinum remains under strong pressure amid pullback in precious metals markets.
A successful test of the support at $1300 – $1305 will push platinum towards the next support level at $1235 – $1240.
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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