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Gold, Silver, Platinum Forecasts – Gold Rebounds But Traders Stay Cautious
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Key Points:
- Gold is heading towards the $3340 level.
- Silver climbed back above the $36.00 level.
- Platinum tests resistance at $1335 - $1340.
Gold
Gold attempts to rebound after yesterday’s sell-off, which was triggered by falling demand for safe-haven assets.
If gold manages to settle back above the $3360 level, it will gain additional upside momentum and move towards the $3400 level.
Silver
Silver is moving higher as gold/silver ratio pulled back below the 92.50 level. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.
In case silver settles above the $36.50 level, it will head towards the nearest resistance at $37.30 – $37.50.
Platinum
Platinum attempts to settle above the resistance at $1335 – $1340 as rally continues.
A successful test of this level will open the way to the test of the next resistance at $1400 – $1405.
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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