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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests Historic Highs As Traders Focus On DOJ Fed Probe
By:
Key Points:
- Gold rallied above the $4600 level amid worries about Fed independence.
- Silver soared above the $85.00 level as gold/silver ratio tested new lows.
- Platinum climbed above the $2300 level.
Gold
Gold tests new highs as traders react to DOJ Fed probe. Fed Chair Powell said that the probe was initiated to put pressure on the central bank.
RSI has recently moved into overbought territory, but there is plenty of room to gain additional upside momentum in the near term.
Silver
Silver tests historic highs as gold/silver ratio pulled back below the 54.00 level.
In case silver settles above the resistance at $83.50 – $84.00, it will move towards the $88.00 level.
Platinum
Platinum is moving higher amid broad rally in precious metals markets, which is driven by rising demand for real assets.
A move above the $2350 level will push platinum towards recent highs near the $2450 level.
If you’d like to know more about how commodity markets work, 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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