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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Is Stuck Near The $4000 Level
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Key Points:
- Gold prices stabilized near the psychologically important $4000 level.
- Silver declined towards the $48.50 level.
- Platinum moved back and forth in a wide trading range.
Gold
Gold continues its attempts to settle above the nearest resistance level, which is located in the $3990 – $4000 range.
In case gold settles above the $4000 level, it will move towards the next resistance at $4170 – $4180.
Silver
Silver pulled back towards the $48.50 level as gold/silver ratio climbed above 82.50.
If silver stays below $48.50, it will head towards the support level at $47.00 – $47.20.
Platinum
Platinum remains stuck in a wide range between the support at $1520 – $1530 and the resistance at $1620 – $1630.
A move below the $1520 level will provide platinum with an opportunity to gain additional downside momentum.
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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