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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulls Back As Dollar Rebounds
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Key Points:
- Gold continued its attempts to settle below the $4050 level.
- Silver gained ground as gold/silver ratio pulled back towards 80.00.
- Platinum tested support at $1520 - $1530.
Gold
Gold remains under pressure as traders focus on the continuation of U.S. dollar’s rebound.
If gold settles below the $4050 level, it will head towards the support, which is located in the $3990 – $4000 range.
Silver
Silver settled back above the $50.50 level as gold/silver ratio declined towards the 80.00 level.
A move above $51.00 will open the way to the test of the resistance at $52.60 – $52.80.
Platinum
Platinum continued its attempts to settle below the support at $1520 – $1530 as traders reacted to the pullback in palladium markets.
If platinum manages to settle below the $1520 level, it will head towards the next support at $1455 – $1465.
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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