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Gold, Silver, Platinum Forecasts – Gold Climbed Back Above $2500
By:
Key Points:
- Gold is moving higher, supported by falling Treasury yields.
- Silver managed to climb back above the $28.00 level.
- Platinum is trying to settle above the resistance at $935 - $940.
In this article:
Gold
Gold climbed back above the $2500 level as traders focused on falling Treasury yields.
If gold stays above $2500, it will move towards the strong resistance level at $2520 – $2530.
Silver
Silver rebounds after the strong sell-off. Gold/silver ratio pulled back below the 88.50 level, providing additional support to silver.
In case silver settles back above the $28.50 level, it will get to the test of the nearest resistance at $28.75 – $29.00.
Platinum
Platinum tests resistance at $935 – $940 amid rising demand for precious metals.
A successful test of this level will open the way to the test of the next resistance at $975 – $985.
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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