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Gold, Silver, Platinum Forecasts – Gold Climbed Above $3030
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Key Points:
- Gold settled above the $3000 level and continues to move higher.
- Silver made an attempt to settle above the $34.00 level.
- Platinum pulled back amid profit-taking.
Gold
Gold tests new highs as the strong rally continues ahead of Fed Interest Rate Decision, which will be released tomorrow.
Currently, gold is moving towards the $3050 level. If gold settles above $3050, it will head towards the $3100 level.
Silver
Silver gained some ground as traders focused on the rally in gold markets. However, rising gold/silver ratio put some pressure on silver.
A move above the $34.00 level will push silver towards the resistance at $34.60 – $34.85.
Platinum
Platinum is losing ground as traders take some profits off the table after the recent move.
RSI remains in the moderate territory, so there is plenty of room to gain momentum in the near term.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
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