Gold markets gained strong upside momentum as traders bet on dovish Fed.
Gold
Gold 050925 Daily Chart
Gold tests new highs as U.S. dollar is under strong pressure after the release of the disappointing Non Farm Payrolls report.
In case gold settles above the resistance at $3570 – $3580, it will move towards the $3650 level.
Silver
Silver 050925 Daily Chart
Silver made an attempt to settle above the resistance at $41.30 – $41.50 but lost momentum and pulled back.
If silver declines below the $40.50 level, it will head towards the support at $39.80 – $40.00.
Platinum
Platinum 050925 Daily Chart
Platinum gained some ground in volatile trading. U.S. dollar’s pullback did not provide significant support to platinum markets in today’s trading session.
A move below the 50 MA at $1377 will open the way to the test of the nearest support at $1345 – $1350.
For a look at all of today’s economic events, check out our economic calendar.
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.
