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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulls Back From Session Highs Amid Profit-Taking
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Key Points:
- Gold made an attempt to settle above the $4150 level but lost momentum and pulled back.
- Silver tested the $51.00 level.
- Platinum was mostly flat in volatile trading.
Gold
Gold pulls back from session highs as traders take profits after the strong rally.
In case gold settles back below the $4100 level, it will head towards the nearest support, which is located in the $3990 – $4000 range.
Silver
Silver tested new highs as gold/silver ratio pulled back below the 81.00 level. Weak dollar provided additional support to silver markets in today’s trading session.
In case silver climbs above the $51.00 level, it will head towards the next resistance at $52.60 – $52.80.
Platinum
Platinum made an attempt to settle above the $1600 level but lost momentum and pulled back.
The technical picture remains unchanged as platinum needs to settle above the resistance at $1620 – $1630 to gain additional momentum in the near term.
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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