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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Remains Stuck Near $4300
By:
Key Points:
- Gold is swinging between gains and losses despite falling Treasury yields.
- Silver failed to settle above the $64.00 level.
- Platinum tested resistance at $1870 - $1880.
Gold
Gold remains stuck near the $4300 level despite U.S. dollar’s pullback and falling Treasury yields.
From the technical point of view, gold needs to settle above $4300 to gain additional momentum and move towards the resistance at $4370 – $4380.
Silver
Silver faced resistance near the $64.00 level and pulled back as gold/silver ratio rebounded towards the 68.00 level.
In case silver settles back below $62.00, it will head towards the nearest support, which is located in the $58.60 – $58.80 range.
Platinum
Platinum gained almost 4% and tested resistance at $1870 – $1880 as rally continued.
A move above the $1880 level will open the way to the test of the psychologically important $2000 level.
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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