Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests New Highs As Shutdown Boosts Demand for Precious Metals

Gold

Gold tested new highs as U.S. government shutdown fueled demand for precious metals.

A successful test of the resistance at $3890 – $3900 will open the way to the test of the psychologically important $4000 level.

Silver

Silver climbed above the resistance at $47.00 – $47.20 as gold/silver ratio pulled back below the 81.50 level.

In case silver settles above the $48.00 level, it will head towards historic highs near the $50.00 level.

Platinum

Platinum moved lower as traders remained focused on profit-taking after the strong rally.

A move below the $1550 level will push platinum towards the nearest support level, which is located in the $1500 – $1505 range.

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