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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Falls 1.5% As Traders Focus On Ceasefire In The Middle East
By:
Key Points:
- Gold tests new lows as traders react to recent developments in the Middle East.
- Silver tests support at $35.65 - $35.85.
- Platinum gains ground as U.S. dollar pulls back against a broad basket of currencies.
Gold
Gold is under pressure as traders react to the surprising ceasefire between Israel and Iran.
In case gold stays below the support at $3350 – $3360, it will head towards the next support level at $3235 – $3245.
Silver
Silver is trying to settle below the support at $35.65 – $35.85 as traders focus on the strong pullback in gold markets.
In case this attempt is successful, silver will head towards the next support level at $34.60 – $34.80.
Platinum
Platinum continues to move higher as traders focus on weaker dollar and falling Treasury yields.
From the technical point of view, platinum is heading towards the nearest resistance level, which is located in the $1335 – $1340 range.
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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