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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulls Back As Dollar Rebounds After Powell’s Comments
By:
Key Points:
- Gold declined below the $3650 level amid profit-taking.
- Silver made an attempt to settle above $42.00.
- Platinum rebounded towards the $1400 level.
Gold
Gold continues to move away from historic highs as traders focus on U.S. dollar’s rebound and take profits after the strong rally.
In case gold settles below the $3625 level, it will head towards the nearest support at $3570 – $3580.
Silver
Silver found support in the $41.30 – $41.50 range and is trying to settle above the $42.00 level.
In case this attempt is successful, silver will head towards the resistance level at $42.80 – $43.00.
Platinum
Platinum rebounds after yesterday’s sell-off. Currently, platinum is trying to settle back above the resistance at $1400 – $1405.
A move above $1405 will push platinum towards the next resistance at $1450 – $1455.
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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