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Gold, Silver, Platinum Forecasts – Gold Rebounds From Session Lows As Dollar Pulls Back
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Key Points:
- Gold rebounded towards the $3340 level.
- Silver was mostly flat as gold/silver ratio climbed above 100.50.
- Platinum made an attempt to settle above the $980 level.
Gold
Gold moved higher as traders reacted to U.S. dollar’s pullback and focused on falling Treasury yields.
In case gold manages to settle above the resistance at $3350 – $3360, it will head towards the next resistance level at $3490 – $3500.
Silver
Silver is mostly flat as gold/silver ratio is heading towards the 101.00 level. Rising gold/silver ratio remains a key problem for silver bulls.
A successful test of the resistance at $33.00 – $33.20 will push silver towards the next resistance at $34.40 – $34.60.
Platinum
Platinum climbed above the resistance at $960 – $965 and is trying to settle above the $980 level.
In case this attempt is successful, platinum will move towards the next resistance 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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