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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests New Highs As Traders Bet On Dovish Fed
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Key Points:
- Gold continues its attempts to settle above the $3380 level.
- Silver climbed above the $37.50 level as gold/silver ratio declined below 89.50.
- Platinum remained stuck in a wide trading range.
Gold
Gold gains ground as traders bet on dovish Fed. Currently, gold is trying to settle above the $3380 level.
In case this attempt is successful, gold will head towards the next resistance at $3440 – $3450.
Silver
Silver tests new highs as gold/silver ratio pulled back below the 89.50 level.
In case silver climbs above the $38.00 level, it will head towards the resistance at $39.80 – $40.00.
Platinum
Platinum remains stuck in a range between the support at $1300 – $1305 and the resistance at $1345 – $1350.
A move above the $1350 level will push platinum towards the next resistance level 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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