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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Traders Focus On Fed’s Independence
By:
Key Points:
- Gold climbed back towards the $3350 level.
- Silver rallied above the $37.50 level.
- Platinum rebounded towards the $1330 level.
Gold
Gold gains ground amid worries about Fed’s independence. President Trump urged Fed’s Cook to resign after mortgage fraud allegation.
In case gold settles above the resistance at $3350 – $3360, it will move towards the next resistance at $3440 – $3450.
Silver
Silver gains ground as traders focus on the strong performance of gold markets. The pullback in gold/silver ratio provided additional support to silver markets.
If silver climbs above the $38.00 level, it will move towards recent highs near $38.75.
Platinum
Platinum rebounded from weekly lows amid broad rally in precious metals markets.
A successful test of the resistance at $1345 – $1350 will open the way to the test of the next 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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