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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests New Highs Amid Rising Demand For Precious Metals
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Key Points:
- Gold is heading towards the $3400 level.
- Silver managed to climb above the $38.00 level.
- Platinum continued its attempts to settle above the $1350 level.
Gold
Gold gains ground as traders stay bullish despite stronger U.S. dollar and rising Treasury yields.
A move above the $3400 level will push gold towards the resistance, which is located in the $3440 – $3450 range.
Silver
Silver climbed above the $38.00 level as gold/silver ratio pulled back below the 89.00 level.
If silver stays above $38.00, it will head towards the resistance at $39.80 – $40.00.
Platinum
Platinum continues its attempts to settle above the resistance at $1345 – $1350 amid rising demand for precious metals.
In case platinum manages to settle above the $1350 level, it will head towards the resistance at $1400 – $1405.
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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