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Gold, Silver, Platinum Forecasts – Gold Rebounds Amid Rising Demand For Precious Metals
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Key Points:
- Gold rebounded towards the $3350 level.
- Silver moved towards the nearest resistance at $33.00 - $33.20.
- Platinum gained 2% as traders focused on the upcoming trade talks between the U.S. and China.
Gold
Gold rebounds as traders use the recent pullback as an opportunity to increase their long positions.
If gold settles back above the resistance at $3350 – $3360, it will move towards the next resistance level at $3490 – $3500.
Silver
Silver gains ground as traders focus on the strong performance of gold markets. Currently, silver is trying to settle above the resistance level at $33.00 – $33.20.
In case this attempt is successful, silver will move towards the next resistance at $34.40 – $34.60.
Platinum
Platinum tested new highs amid broad rally in precious metals markets. Traders bet on successful trade negotiations between the U.S. and China.
A move above the $1000 level will push platinum towards the resistance level 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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