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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulls Back From Session Highs As Traders Focus On Strong Dollar
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Key Points:
- Gold moved back towards the $4070 level.
- Silver failed to settle above $52.50 and pulled back towards the $50.50 level.
- Platinum declined towards the support at $1520 - $1530.
Gold
Gold pulled back from session highs as U.S. Dollar Index gained ground and tested the psychologically important 100.00 level.
If gold settles back below the $4050 level, it will head towards the nearest support, which is located in the $3990 – $4000 range.
Silver
Silver has also pulled back from session highs as traders focused on U.S. dollar’s rally.
A move below the $50.50 level will push silver towards the support level at $49.60 – $49.80.
Platinum
Platinum remains stuck near the key support level at $1520 – $1530 as traders focus on the dynamics of the American currency.
If platinum settles below $1520, it will gain additional downside momentum and move towards the 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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