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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tested Historic Highs As Traders Prepared For U.S. Government Shutdown
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Key Points:
- Gold made an attempt to settle above the $3870 level.
- Silver failed to settle above the resistance at $47.00 - $47.20.
- Platinum pulled back below the $1600 level.
Gold
Gold continues to move higher as traders prepare for the potential U.S. government shutdown.
In case gold settles above the $3850 level, it will head towards the $3900 level.
Silver
Silver pulled back towards the $46.50 level as gold/silver ratio rebounded above the 82.50 level.
In case silver settles below $46.00, it will head towards the nearest support level, which is located in the $44.25 – $44.50 range.
Platinum
Platinum is losing ground as traders take profits off the table after the strong rally.
From the technical point of view, platinum needs to climb above the $1625 level to gain additional momentum in the near term.
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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