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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds From Session Lows
By:
Key Points:
- Gold settled back above the $4050 level.
- Silver made an attempt to settle below the $49.00 level.
- Platinum moved above $1500 as traders bought the dip.
Gold
Gold managed to rebound from session lows and moved higher despite strong dollar.
In case gold climbs back above the $4100 level, it will move towards the resistance at $4170 – $4180.
Silver
Silver tested new lows but managed to climb back above the psychologically important $50.00 level.
If silver moves above $51.00, it will head towards the nearest resistance, which is located in the $52.60 – $52.80 range.
Platinum
Platinum has also rebounded from session lows as traders used the pullback as an opportunity to increase their long positions.
From the technical point of view, platinum needs to settle above the resistance at $1520 – $1530 to gain upside momentum in the near term.
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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