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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Is Stuck Below The Important Resistance Level
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Key Points:
- Gold did not manage to settle above the $3350 level.
- Silver gained ground as gold/silver ratio pulled back.
- Platinum climbed above the $1400 level.
Gold
Gold remains stuck below the resistance level at $3350 – $3360 as traders ignore U.S. dollar’s pullback.
If gold settles below the $3330 level, it will head towards the nearest support at $3235 – $3245.
Silver
Silver tests new highs as gold/silver ratio pulled back below the 91.00 level. RSI remains in the moderate territory, so there is plenty of room to gain momentum in the near term.
If silver stays above the $36.50 level, it will move towards the next resistance at $37.30 – $37.50.
Platinum
Platinum soared 5.5% as the strong rally continued. Palladium markets are up by almost 8%, which is bullish for platinum.
In case platinum stays above the resistance at $1400 – $1405, it will head towards the next resistance level at $1485 – $1490.
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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