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Gold (XAUUSD), Silver, Platinum Forecasts – Silver Soars 3.5% As Rally Continues
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Key Points:
- Gold made an attempt to settle above the $4250 level.
- Silver climbed above the $58.00 level.
- Platinum pulled back amid profit-taking.
Gold
Gold is mostly flat as traders take some profits off the table after the recent move.
The technical picture remains bullish as gold settled above the resistance at $4170 – $4180.
Silver
Silver tests new highs as rally continues. RSI moved into the oversold territory, but there is enough room to gain additional momentum in the near term.
In case silver settles above the $58.80 level, it will head towards the psychologically important $60.00 level.
Platinum
Platinum tested new highs but lost momentum and pulled back towards the $1660 level.
A move below $1650 will push platinum towards the nearest support at $1620 – $1630.
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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