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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests The $4100 Level
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Key Points:
- Gold gained strong momentum after a period of consolidation.
- Silver climbed above the psychologically important $50.00 level.
- Platinum gained 2.7% as demand for precious metals increased.
Gold
Gold rallied as traders resumed purchases after a period of consolidation. The upside trend stays strong, and gold is moving higher despite rising Treasury yields.
If gold climbs above the $4100 level, it will head towards the resistance level at $4170 – $4180.
Silver
Silver tests resistance at $49.60 – $49.80 as gold/silver ratiio declined below the 82.00 level.
In case this test is successful, silver will head towards the next resistance at $52.60 – $52.80.
Platinum
Platinum climbed above the $1570 level amid rising demand for precious metals.
A move above the $1600 level will push platinum towards the nearest resistance level at $1620 – $1630.
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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