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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests New Highs As Rally Continues

By: 
Vladimir Zernov
Gold, Silver, Platinum Forecasts

Gold traders may start to take profits ahead of the Fed decision.

Gold

Gold
Gold 160925 Daily Chart

Gold tested new highs as traders focused on the strong pullback of the American currency.

RSI remains in the overbought territory, and traders may start to take some profits off the table ahead of the Fed decision, which will be released tomorrow.

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Silver

Silver
Silver 160925 Daily Chart

Silver faced resistance near the $43.00 level and pulled back amid profit-taking.

A move below $42.00 will push silver towards the nearest support level, which is located in the $41.30 – $41.50 range.

Platinum

Platinum
Platinum 160925 Daily Chart

Platinum made an attempt to settle above the resistance at $1400 – $1405 but lost momentum and pulled back.

The technical picture remains unchanged as platinum needs to settle above the $1405 level to gain additional upside momentum in the near term.

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About the Author

Vladimir ZernovFutures Trading Expert

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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