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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests New Highs As Dollar Pulls Back
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Key Points:
- Gold tests resistance at $4170 - $4180.
- Silver attempts to settle above the $53.00 level.
- Platinum gained ground as demand for precious metals increased.
Gold
Gold attempts to settle above the resistance at $4170 – $4180 as traders focus on U.S. dollar’s pullback.
In case this attempt is successful, gold will move towards the next resistance level at $4370 – $4380.
Silver
Silver rallied towards the $53.00 level as gold/silver ratio pulled back below the 79.00 level.
If silver settles above the resistance at $52.60 – $52.80, it will head towards historic highs near the $54.50 level.
Platinum
Platinum gained ground amid rising demand for precious metals. Currently, platinum is trying to settle above the 50 MA at $1567.
If platinum manages to settle above the 50 MA, it will head towards the resistance at $1620 – $1630.
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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