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Gold, Silver, Platinum Forecasts – Gold Climbs Above $2740 As Rally Continues
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Key Points:
- Gold is heading towards the $2750 level as traders focus on falling Treasury yields.
- Silver climbed towards the $31.00 level amid rising demand for precious metals.
- Platinum is trying to settle above the $960 level.
Gold
Gold tests new highs amid strong demand for precious metals. Falling Treasury yields provide additional support to gold markets.
If gold manages to settle above the $2750 level, it will move towards the resistance at $2780 – $2790.
Silver
Silver gained ground as traders reacted to the strong performance of gold markets. Gold/silver ratio climbed above the 89 level, which was a disappointing development for silver bulls.
If silver climbs above $31.00, it will move towards the nearest resistance at $31.45 – $31.75.
Platinum
Platinum tests weekly highs as the rebound continues. Palladium is up by almost 2% in today’s trading session, which is bullish for platinum.
A move above the $960 level will push platinum towards the resistance, which is located at the recent highs 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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