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Gold (XAUUSD), Silver, Platinum Forecasts – Silver Climbed Above $60
By:
Key Points:
- Gold attempts to settle above the $4210 level.
- Silver moved above the psychologically important $60.00 level.
- Platinum tested the $1700 level as demand for precious metals increased.
Gold
Gold gains ground as traders focus on the strong rally in silver markets and prepare for Fed decision, which will be released tomorrow.
The technical picture remains bullish as gold settled above the support level at $4170 – $4180.
Silver
Silver tested new highs after a successful test of the resistance level at $58.60 – $58.80.
RSI has recently moved into the overbought territory. However, silver has just climbed above the key resistance level, so it has a great chance to gain additional upside momentum in the near term.
Platinum
Platinum gained upside momentum amid broad rally in precious metals markets.
In case platinum climbs above the $1700 level, it will head towards the resistance at $1740 – $1750.
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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