Advertisement
Advertisement
Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds After Strong Pullback
By:
Key Points:
- Gold climbed back above the $4100 level.
- Silver attempts to settle above $49.00 as trades bet on a rebound.
- Platinum tested the $1600 level.
Gold
Gold is moving higher as traders increase their long positions after the strong pullback.
A move above the resistance at $4170 – $4180 will push gold towards the next resistance level at $4370 – $4380.
Silver
Silver gained ground as gold/silver ratio pulled back towards the 84.00 level.
In case silver settles above the resistance at $49.60 – $49.80, it will head towards the next resistance level at $54.30 – $54.50.
Platinum
Platinum is also moving higher amid broad rebound in precious metals markets. RSI is in the moderate territory, so there is plenty of room to gain momentum in the near term.
In case platinum settles above the $1600 level, it will get to the test of the nearest resistance at $1620 – $1630.
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.
Advertisement