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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests Historic Highs Amid Greenland Crisis
By:
Key Points:
- Gold climbed above the $4700 level as rally continued.
- Silver pulled back as gold/silver ratio settled above the 50.00 level.
- Platinum tested the $2400 level.
Gold
Gold tests new highs as traders stay bullish amid Greenland crisis. The Danish pension fund’s decision to sell Treasuries provided additional support to gold markets.
RSI is in the overbought territory, but there is plenty of room to gain additional upside momentum in the near term.
Silver
Silver pulled back as gold/silver ratio climbed back above the psychologically important 50.00 level.
If silver moves below the $91.50 level, it will head towards recent lows near the $87.00 level.
Platinum
Platinum made an attempt to settle above the $2400 level amid rising demand for precious metals.
The technical picture remains unchanged as platinum needs to settle above $2450 to gain additional momentum in the near term.
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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