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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests New Highs As Traders Focus On Middle East

By: 
Vladimir Zernov
Gold, Silver, Platinum Forecasts

Key Points:

  • Gold settled above the $3400 level as traders focused on Israel - Iran conflict.
  • Silver was mostly flat in volatile trading.
  • Platinum suffered a strong sell-off amid profit-taking.

Gold

Gold
Gold 130625 Daily Chart

Gold tested new highs as demand for safe-haven assets increased amid conflict between Israel and Iran.

If gold climbs above the $3450 level, it will move towards the resistance at $3490 – $3500.

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Silver

Silver
Silver 130625 Daily Chart

Silver is mostly flat as gold/silver ratio climbed back above the 94.50 level, which was bearish for silver.

The technical picture remains bullish as silver managed to stay above the nearest support at $35.65 – $35.85.

Platinum

Platinum
Platinum 130625 Daily Chart

Platinum found itself under strong pressure as traders rushed to take profits off the table.

A successful test of the support at $1195 – $1200 will push platinum towards the next support level at $1140 – $1145.

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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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