Advertisement
Advertisement
Gold, Silver, Platinum Forecasts – Gold Pulls Back As Dollar Tests Multi-Week Highs
By:
Key Points:
- Gold is trying to settle below $2650 as traders react to the better-than-expected Non Farm Payrolls report.
- Silver made an attempt to settle above $33.00 as gold/silver ratio tested multi-week lows.
- Platinum pulled back towards the support at $975 - $985.
In this article:
Gold
Gold pulled back as U.S. dollar rallied after the release of the better-than-expected Non Farm Payrolls report.
In case gold declines below the recent lows at $2625, it will head towards the nearest material support level at $2580 – $2590.
Silver
Silver tested yearly highs as gold/silver ratio declined below the 81.50 level before moving back above 82.00.
A move above $32.50 will push silver towards the next resistance level at $34.00 – $34.25.
Platinum
Platinum is losing ground as traders focus on strong U.S. dollar and the rally in Treasury yields.
A successful test of the nearest support at $975 – $985 will push platinum towards the next support level at $935 – $940.
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.
Latest news and analysis
Advertisement