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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallied Above $3400 As Dollar Pulled Back
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Key Points:
- Gold managed to settle above the $3400 level, supported by dollar's pullback.
- Silver moved above $39.00 as gold/silver ratio pulled back.
- Platinum climbed above the key $1350 level.
Gold
Gold tests new highs as rally continues. U.S. dollar’s pullback provided additional support to gold markets in today’s trading session.
The nearest resistance level for gold is located in the $3440 – $3450 range. A move above the $3450 level will push gold towards the resistance at $3490 – $3500.
Silver
Silver tests new highs as gold/silver ratio declined below the 87.50 level. Currently, silver is trying to settle above $39.00 level.
In case this attempt is successful, silver will head towards the nearest resistance at $39.80 – $40.00.
Platinum
Platinum attempts to settle above the key resistance level at $1345 – $1350 amid broad rally in precious metals markets.
In case this attempt is successful, platinum will head towards the resistance at $1400 – $1405.
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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