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Gold (XAUUSD), Silver, Platinum Forecasts – Silver Soared Above $100
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Gold and platinum tested historic highs.
Gold
Gold tested historic highs as demand for precious metals remained strong. Traders bet that central banks will continue to buy gold to diversify their reserves.
A move above the $5000 level will open the way to the test of the $5100 level. RSI is in the overbought territory, but there is some room to gain additional momentum.
Silver
Silver climbed above the psychologically important $100 level as gold/silver ratio pulled back below 50.00.
The technical picture is bullish as silver managed to settle above the resistance at $95.50 – $96.00.
Platinum
Platinum tests historic highs amid broad rally in precious metals markets, which is driven by geopolitical tensions and weaker dollar.
RSI has recently moved into the overbought territory, but there is plenty of room to gain additional upside momentum in the near term.
If you’d like to know more about how to trade gold and silver, please visit our educational area.
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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