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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests The $4200 Level
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Key Points:
- Gold moved above the resistance at $4170 - $4180.
- Silver rallied towards the $53.50 level.
- Platinum made an attempt to settle above the resistance at $1620 - $1630.
Gold
Gold tests new highs as traders focus on the strong pullback in Treasury yields, which is bullish for precious metals.
A successful test of the resistance at $4170 – $4180 will push gold towards the next resistance level at $4370 – $4380.
Silver
Silver rallied above the $53.00 level as gold/silver ratio declined below the 79.00 level.
In case silver stays above the resistance at $52.60 – $52.80, it will head towards the $55.00 level.
Platinum
Platinum gained 2% amid rising demand for precious metals. Currently, platinum is tryng to settle above the resistance at $1620 – $1630.
In case this attempt is successful, platinum will move towards the next resistance level at $1735 – $1745.
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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