Advertisement
Advertisement
Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tested Historic Highs As Rally Continued
By:
Key Points:
- Gold made an attempt to settle above $4890 amid rising geopolitical tensions.
- Silver pulled back amid profit-taking.
- Platinum tested the $2500 level.
Gold
Gold tested new highs as traders focused on Trump’s comments in Davos. However, traders have already started to take some profits off the table.
In case gold manages to settle above the resistance at $4890 – $4900, it will head towards the psychologically important $5000 level.
Silver
Silver pulled back as gold/silver ratio climbed towards the 52.00 level. Rising gold/silver ratio put some pressure on silver in recent trading sessions.
In case silver manages to settle below the support at $91.50 – $92.00, it will move towards the $87.00 level.
Platinum
Platinum made an attempt to settle above the $2500 level amid strong demand for precious metals.
From the technical point of view, platinum needs to settle above the resistance at $2510 – $2530 to gain additional upside momentum.
If you’d like to know more about how to trade gold and silver, please visit our educational area.
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.
Advertisement