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Gold (XAUUSD), Silver, Platinum Forecasts – Silver Rebounds And Tests Historic Highs
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Key Points:
- Gold failed to settle above the $4250 level.
- Silver rebounded after yesterday's sell-off.
- Platinum was mostly flat in choppy trading.
Gold
Gold is mostly flat as traders focus on rising Treasury yields and wait for additional catalysts.
From the technical point of view, gold needs to settle above the $4250 level to gain additional upside momentum in the near term.
Silver
Silver rebounded after yesterday’s sell-off as traders used the pullback as an opportunity to increase their long positions.
A successful test of the resistance at $58.60 – $58.80 will open the way to the test of the $60.00 level.
Platinum
Platinum failed to settle below the support at $1620 – $1630 and climbed back towards the $1650 level.
In case platinum moves above $1680, it will head towards the resistance level 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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