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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies Amid Rising Demand For Safe-Haven Assets
By:
Key Points:
- Gold is trying to settle above the $3450 level.
- Silver tests resistance at $39.80 - $40.00.
- Platinum gains ground amid broad rally in precious metals markets.
Gold
Gold tests new highs as traders focus on weak dollar and bet on dovish Fed. Worries about Fed independence provide additional support to gold markets.
A successful test of the resistance at $3440 – $3450 will open the way to the test of the next resistance level at $3490 – $3500.
Silver
Silver rallied towards the $40.00 level as gold/silver ratio pulled back below 86.50.
A move above $40.00 will provide silver with an opportunity to gain additonal upside momentum.
Platinum
Platinum gained some ground as traders focused on the strong performance of gold and silver markets.
If platinum stays above the $1350 level, it will move 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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