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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Climbed Back Above The $4100 Level
By:
Key Points:
- Gold rebounded from session lows as traders reacted to inflation data and PMI reports.
- Silver moved back above the $48.50 level.
- Platinum climbed towards the $1580 level.
Gold
Gold moved away from session lows as traders reacted to the lower-than-expected U.S. Inflation Rate report.
In case gold climbs above the resistance at $4170 – $4180, it will head towards the next resistance at $4370 – $4380.
Silver
Silver has also managed to rebound from session lows as traders focused on the performance of gold markets.
From the technical point of view, silver needs to settle above the resistance at $49.60 – $49.80 to gain additional upside momentum.
Platinum
Platinum is moving higher as traders focus on strong PMI reports from the U.S. and bet on rising demand for the metal.
If platinum settles above the $1600 level, it will head towards the nearest resistance at $1620 – $1630.
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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