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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests $5100 As Dollar Sinks
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Key Points:
- Gold stays strong as traders focus on U.S dollar's pullback.
- Silver tested resistance at $112.50 - $113.50.
- Platinum is under pressure amid profit-taking.
Gold
Gold continues its attempts to settle above the resistance at $5100 – $5110 as U.S. dollar tests multi-year lows.
A move above the $5110 level will push gold towards the $5200 level. RSI is in the extremely overbought territory, but the bullish trend stays strong.
Silver
Silver gains ground as traders rush to buy the metal after the strong pullback from historic highs.
In case silver climbs back above the $110.00 level, it will move towards the resistance at $112.50 – $113.50.
Platinum
Platinum tests support at $2510 – $2530 as traders continue to take profits after the strong rally.
In case this test is successful, platinum will move towards the next support at $2245 – $2265.
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.
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