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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests The $4100 Level Amid Rising Demand For Precious Metals
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Key Points:
- Gold gains ground at the start of the week.
- Silver settled back above the psychologically important $50.00 level.
- Platinum gained 2% as demand for precious metals increased.
Gold
Gold climbed back above the $4050 level and is trying to settle above the $4100 level as traders are bullish despite strong dollar.
If gold manages to settle above $4100, it will move towards the resistance level at $4170 – $4180.
Silver
Silver attempts to settle above the $50.50 level as traders focus on the strong performance of gold markets.
A move above $50.50 will open the way to the test of the resistance level at $52.60 – $52.80.
Platinum
Platinum moved back above the resistance at $1520 – $1530 amid rising demand for precious metals.
If platinum settles above the 50 MA at $1560, it will head towards the resistance 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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