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Gold, Silver, Platinum Forecasts – Gold Retreats From Historic Highs
By:
Key Points:
- Gold pulled back towards the $3400 level.
- Silver did not manage to settle above the resistance at $33.00 - $33.20.
- Platinum declined below the $950 level.
Gold
Gold tested the psychologically important $3500 level but lost momentum and pulled back amid profit-taking.
The nearest support level for gold is located in the $3350 – $3360 range. A move below the $3350 level will push gold towards the next support at $3235 – $3245.
Silver
Silver continues its attempts to settle above the resistance level at $33.00 – $33.20.
In case silver climbs above $33.20, it will move towards the next resistance at $34.40 – $34.60.
Platinum
Platinum is losing ground after an unsuccessful attempt to settle above the resistance at $960 – $965.
A move below the $945 level will push platinum towards the nearest support at $930 – $935.
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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