Advertisement
Advertisement
Gold (XAUUSD), Silver, Platinum Forecasts – Silver Is Heading Towards Historic Highs
By:
Key Points:
- Gold tests resistance at $3780 - $3790.
- Silver rallied above $46.00 as gold/silver ratio pulled back towards 81.00.
- Platinum is moving towards the $1600 level.
Gold
Gold gained ground as traders focused on U.S. dollar’s pullback. The American currency moved lower as PCE Price Index report met analyst estimates.
A successful test of the resistance at $3780 – $3790 will push gold towards the $3850 level.
Silver
Silver tests multi-year highs as gold/silver ratio pulled back towards the 81.00 level.
A move above the $47.00 level will push silver towards historic highs near the $50.00 level.
Platinum
Platinum climbed above the $1550 level as traders focused on the strong rally in silver and palladium markets.
From the technical point of view, platinum is heading towards the $1600 level. RSI is in the overbought territory, so the risks of a pullback are increasing.
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.
Advertisement