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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As Dollar Falls
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Key Points:
- Gold rebounded above the $3300 level.
- Silver remained stuck near the key support level.
- Platinum was swinging between gains and losses in volatile trading.
Gold
Gold rebounds as traders focus on the strong pullback of the U.S. dollar and falling Treasury yields.
A move above the resistance at $3350 – $3360 will push gold towards the next resistance level at $3490 – $3500.
Silver
Silver remains stuck near the strong support level at $33.00 – $33.20 as traders wait for stronger catalysts.
If silver climbs above the $33.50 level, it will head towards the resistance at $34.40 – $34.60.
Platinum
Platinum is mostly flat in volatile trading. Platinum made another attempt to settle above the $1090 level but failed to develop sufficient momentum.
A move below the $1050 level will open the way to the test of the support level at $1010 – $1015.
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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