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Gold (XAUUSD), Silver, Platinum Forecasts – Spot Gold Is Heading Towards $4000
By:
Key Points:
- Gold is trying to settle above the $3990 level.
- Silver pulled back amid profit-taking.
- Platinum remained stuck near resistance at $1620 - $1625.
Gold
Gold tests new highs, supported by FOMO trade and worries about political crisis in France.
A move above the psychologically important $4000 level will provide gold with an opportunity to gain additional upside momentum.
Silver
Silver is moving lower as gold/silver ratio climbed above the 83.00 level. Traders take some profits off the table near historic highs.
A successful test of the support at $47.00 – $47.20 will push silver towards the next support level at $44.25 – $44.50.
Platinum
Platinum continues its attempts to settle above the resistance level at $1620 – $1625.
If platinum manages to stay above the $1625 level, it will head towards the next resistance at $1730 – $1735.
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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