Gold (XAUUSD), Silver, Platinum Forecasts – Gold Soared Above $4000

Gold

Gold climbed above the psychologically important $4000 level as strong rally continued.

From the technical point of view, gold is in the extremely overbought territory. The FOMO trade pushes prices higher, so traders will stay focused on momentum.

Silver

Silver tested new highs as gold/silver ratio declined below the 82.00 level. At this point, silver is just one step away from testing historic highs.

A successful test of the resistance at $49.60 – $49.80 will provide silver with an opportunity to gain additional upside momentum.

Platinum

Platinum climbed above the resistance at $1620 – $1625 amid broad rally in precious metals markets.

A move above the $1675 level will push platinum towards the next resistance level at $1730 – $1735.

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