Gold (XAUUSD), Silver, Platinum Forecasts – Gold Gains 2% As Traders Buy The Dip

Gold

Gold rallied as traders used Friday’s pullback as an opportunity to increase their long positions at attractive levels.

A successful test of the resistance at $4370 – $4380 will open the way to the test of the psychogically important $4500 level.

Silver

Silver failed to gain strong momentum as gold/silver ratio climbed back above the 83.00 level.

In case silver settles above the $52.50 level, it will head towards the nearest resistance, which is located in the $53.40 – $53.60 range.

Platinum

Platinum attempts to settle back above the resistance level at $1620 – $1625 amid rising demand for precious metals.

In case this attempt is successful, platinum will head towards the next resistance, which is located near recent highs in the $1730 – $1735 range.

For a look at all of today’s economic events, check out our economic calendar.