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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests New Highs Amid Rising Geopolitical Tensions
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Key Points:
- Gold managed to settle above the $4600 level.
- Silver rallied as gold/silver ratio pulled back below the 52.00 level.
- Platinum settled near the $2350 level.
Gold
Gold tested new highs despite stronger dollar. Demand for gold is rising as traders focus on potential U.S. action against Iran.
The technical picture remains bullish as gold managed to settle above the resistance at $4540 – $4550.
Silver
Silver tests historic highs as gold/silver ratio pulled back below the 52.00 level. RSI is in the overbought territory, but there is plenty of room to gain additional upside momentum in the near term.
A move above the $89.00 level will push silver towards the psychologically important $90.00 level.
Platinum
Platinum managed to gain some ground amid rising demand for precious metals.
In case platinum settles above the $2350 level, it will gain additional upside momentum and move towards the $2450 level.
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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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