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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Gains Ground As Traders Bet On Dovish Fed
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Key Points:
- Gold made an attempt to settle above the $3350 level.
- Silver is flat as traders wait for additional catalysts.
- Platinum is stuck near the support level at $1335 - $1340.
Gold
Gold gains ground as U.S. dollar stays near yearly lows. Traders remain focused on dovish Fed policy outlook, which is bullish for gold markets.
In case gold settles above the resistance at $3350 – $3360, it will head towards the next resistance level at $3440 – $3450.
Silver
Silver is mostly flat as gold/silver ratio climbed above the 92.00 level. From the technical point of view, silver continues to consolidate after the strong rally.
If silver manages to climb above the $36.50 level, it will head towards the resistance level at $37.30 – $37.50.
Platinum
Platinum is losing ground as the market continues to stabilize after recent volatility.
In case platinum stays above the support level at $1335 – $1340, it will head 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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