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Gold, Silver, Platinum Forecasts – Gold Is Mostly Flat As Traders Focus On U.S. GDP Report
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Key Points:
- Gold rebounded from session lows as traders bought the dip.
- Silver pulled back towards the $32.50 level.
- Platinum declined below the $960 level amid broad pullback in commodity markets.
Gold
Gold made another attempt to settle below the $3300 level but lost momentum and rebounded towards $3310.
The technical picture remains unchanged as gold needs to settle above the resistance at $3350 – $3360 to gain upside momentum.
Silver
Silver pulled back towards the $32.50 level as gold/silver ratio climbed above the 101.00 level.
A move below $32.50 will push silver towards the nearest support, which is located in the $31.45 – $31.75 range.
Platinum
Platinum moved lower amid broad pullback in commodity markets, which was driven by the weak U.S. GDP Growth Rate report.
If platinum settles below the $950 level, it will head towards the support at $930 – $935.
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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