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Gold, Silver, Platinum Forecasts – Gold Rebounds After Sell-Off
By:
Key Points:
- Gold is trying to settle back above the $2700 level.
- Silver rebounded towards the $32.00 level.
- Platinum moved higher amid rising demand for precious metals.
In this article:
Gold
Gold rebounded towards the $2700 level as traders prepared for the Fed decision, which will be released soon.
In case gold settles back above $2700, it will head towards the resistance at $2750 – $2760.
Silver
Silver gains ground as traders use the pullback as an opportunity to increase their long positions.
If silver settles above the support at $31.45 – $31.75, it will move towards the next resistance level at $34.00 – $34.25.
Platinum
Platinum managed to gain some ground amid broad rebound in precious metals markets.
A move above the $1000 level will open the way to the test of the resistance at $1020 – $1030.
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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