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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests New Highs As Demand Stays Strong
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Key Points:
- Gold is moving towards the $3800 level.
- Silver settled above the $44.00 level as rally continued.
- Platinum soared 4.9% amid strong demand for precious metals.
Gold
Gold tests new highs as strong rally continues. Dovish Fed policy outlook and geopolitical concerns provide material support to gold markets.
RSI is in the overbought territory, so the risks of a pullback are increasing. However, traders should note that high levels of RSI are typical for strong moves.
Silver
Silver tested new highs as traders reacted to the strong performance of gold markets.
If silver stays above the $44.00 level, it will head towards the psychologically important $45.00 level.
Platinum
Platinum rallied towards the $1500 level amid broad rally in precious metals markets.
RSI remains in the moderate territory, which is bullish for platinum markets.
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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