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Gold, Silver, Platinum Forecasts – Gold Gains Ground As Traders Buy The Dip
By:
Key Points:
- Gold settled back above the $3300 level.
- Silver was mostly flat as traders took some profits off the table.
- Platinum continued its attempts to settle above the resistance at $960 - $965.
Gold
Gold rebounds as traders use the recent sell-off as an opportunity to increase their long positions.
If gold climbs back above the resistance at $3350 – $3360, it will move towards the next resistance level at $3490 – $3500.
Silver
Silver is mostly flat as traders take some profits off the table after yesterday’s strong rally.
In case silver stays above the $33.50 level, it will move towards the next resistance level, which is located in the $34.40 – $34.60 range.
Platinum
Platinum continues its attempts to settle above the strong resistance at $960 – $965.
In case platinum settles above the $965 level, it will head towards the resistance at $1010 – $1015.
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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