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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Moves Higher As Traders Ignore Dollar’s Rebound
By:
Key Points:
- Gold continues its attempts to settle above the $3370 level.
- Silver pulled back amid profit-taking.
- Platinum declined towards the $1330 level after an unsuccessful attempt to settle above $1350.
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Gold
Gold gains some ground despite U.S. dollar’s rebound and rising Treasury yields.
In case gold stays above the $3360 level, it will head towards August highs near the $3400 level.
Silver
Silver moved lower as traders took some profits off the table after the strong rebound from recent lows.
In case silver manages to settle above the $39.00 level, it will head towards the resistance at $39.80 – $40.00.
Platinum
Platinum failed to settle above the strong resistance level at $1345 – $1350 and pulled back towards the $1330 level.
A move below $1330 will push platinum towards the support level at $1300 – $1305.
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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