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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats From Session Highs Despite U.S. Dollar’s Pullback
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Key Points:
- Gold is swinging between gains and losses as traders wait for additional catalysts.
- Silver pulled back amid profit-taking.
- Platinum made an attempt to settle above the 50 MA at $1562.
Gold
Gold is mostly flat despite U.S. dollar’s pullback and falling Treasury yields. Traders take some profits off the table after the recent rebound.
From the technical point of view, gold needs to settle above the resistance at $4170 – $4180 to gain additional upside momentum.
Silver
Silver made an attempt to settle above the $51.50 level but lost momentum and pulled back.
If silver settles below the $51.00 level, it will head towards the nearest support, which is located in the $49.60 – $49.80 range.
Platinum
Platinum tested the 50 MA at $1562 but failed to develop sufficient upside momentum.
A move above the 50 MA will open the way to the test of the resistance level at $1620 – $1630.
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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