Advertisement
Advertisement
Gold (XAUUSD), Silver, Platinum Forecasts – Gold Attempts To Settle Above $4300
By:
Key Points:
- Gold continues to move higher as traders rush to buy precious metals.
- Silver is trying to settle above the $54.00 level.
- Platinum made an attempt to settle above the $1735 level.
Gold
Gold tests new highs amid strong demand for precious metals, which is driven by fears of U.S. – China trade war.
RSI is in the extremely overbought territory, but traders ignore risks and focus on the strong bullish trend.
Silver
Silver attempts to settle above the resistance at $53.40 – $53.60 as traders focus on the strong performance of gold markets.
A move above the $53.60 level will push silver markets towards the $55.00 level.
Platinum
Platinum tests resistance at $1730 – $1735 as strong rally continues. RSI has recently moved into the overbought territory, but there is plenty of room to gain additional momentum in the near term.
A successful test of the resistance at $1730 – $1735 will open the way to the test of the next resistance level at $1890 – $1900.
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.
Advertisement