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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Moves Towards $4900 As Dollar Retreats
By:
Key Points:
- Gold is heading towards historic highs as rally continues.
- Silver tests key resistance at $95.50 - $96.00
- Platinum gained 3.5% amid rising demand for precious metals.
Gold
Gold attempts to settle above the resistance at $4890 – $4900 as traders stay focused on geopolitical issues and react to U.S. dollar’s pullback.
A move above the $4900 level will open the way to the test of the psychologically important $5000 level.
Silver
Silver is trying to settle above the $96.00 level as gold/silver ratio pulled back below the 51.00 level.
In case this attempt is successful, silver will move towards the key $100 level.
Platinum
Platinum rallied as traders reacted to the strong performance of gold and silver markets.
From the technical point of view, platinum needs to settle above the $2530 level to gain additional upside momentum.
If you’d like to know more about how to trade gold and silver, please visit our educational area.
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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