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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests New Highs As Rebound Continues
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Key Points:
- Gold moved above the $3370 level despite stronger dollar.
- Silver made an attempt to settle above the $37.50 level.
- Platinum tested resistance at $1345 - $1350.
Gold
Gold gains ground as traders stay focused on weak job market data from the U.S.
If gold settles above the resistance at $3350 – $3360, it will head towards the next resistance level at $3440 – $3450.
Silver
Silver attempts to settle above the resistance at $37.30 – $37.50 as gold/silver ratio pulled back towards the 90.00 level.
A move above $37.50 will push silver towards the $38.35 level. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.
Platinum
Platinum tested resistance at $1345 – $1350 amid rising demand for precious metals.
If platinum manages to settle above $1350, it will head towards the next 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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