Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds Towards Historic Highs

Gold

Gold moved back towards the resistance level at $3890 – $3900 as traders bought the dip.

A successful test of the resistance at $3890 – $3900 will push gold towards the $4000 level.

Silver

Silver  tests new highs as gold/silver ratio declined below the 81.00 level. Gold/silver ratio has declined from April highs of 107.00, serving as one of the key catalysts behind the major rally in silver markets.

From the technical point of view, silver is heading towards the resistance at historic highs at $49.60 – $49.80.

Platinum

Platinum rallied as traders used the recent pullback as an opportunity to increase their long positions.

A move above the resistance at $1620 – $1625 will push platinum towards the next resistance at $1730 – $1735.

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