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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Soars Above $3950
By:
Key Points:
- Gold is heading towards the $4000 level.
- Silver climbed above $48.50 as rally continued.
- Platinum moved above the resistance at $1620 - $1625.
Gold
Gold tested new highs as demand for safe-haven assets increased due to the sell-off in the European government bond markets.
In case gold settles above the $3950 level, it will head towards the psychologically important $4000 level.
Silver
Silver is moving towards historic highs as traders focus on the strong performance of gold markets.
A move above the $49.00 level will push silver towards the resistance at $49.60 – $49.80.
Platinum
Platinum is trying to settle above the resistance at $1620 – $1620 amid rising demand for precious metals.
In case this attempt is successful, platinum will move towards the next resistance level at $1730 – $1735.
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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