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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Remains Stuck Near The $4000 Level
By:
Key Points:
- Gold is mostly flat as traders focus on U.S. - China tensions.
- Silver attempts to settle above the $50.00 level.
- Platinum pulls back amid profit-taking.
Gold
Gold is swinging between gains and losses as traders react to Trump’s plans to put additional tariffs on China.
The technical picture remains unchanged as gold needs to settle above the $4000 level to gain additional upside momentum in the near term.
Silver
Silver continues to move higher as gold/silver ratio declined below the 80.00 level.
In case silver manages to settle above the resistance at $49.60 – $49.80, it will head towards the $52.00 level.
Platinum
Platinum pulled back towards the $1600 level as traders took some profits off the table near multi-year highs.
A successful test of the support at $1620 – $1625 will open the way to the test of the next support level at $1500 – $1505.
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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