Gold, Silver and Platinum Forecast: Fed Minutes Put Key Breakout Levels in Focus
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Key Points:
- Fed minutes, real yields, and the U.S. dollar will likely decide the next move in gold, silver, and platinum.
- Gold must hold $3,950 and break above $4,350 to confirm stronger short-term momentum.
- Silver continues to outperform platinum, while platinum needs a break above $1,700 to confirm recovery.
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Gold (XAU), silver (XAG) and platinum (XPL) are recovering from the ground after four months of pressure, but the next move still depends on the Fed, the US dollar and real yields. The metals rebounded from key support levels as the rate hike expectations dropped after the weak jobs data. The liquidity conditions also favor the outlook for precious metals. But the market is waiting for the Fed minutes for further clues. This article presents the macro drivers, liquidity conditions, technical levels and ratio signals to understand the next move in precious metals.