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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulled Back Towards The $3350 Level
By:
Key Points:
- Gold is losing ground as traders focus on stronger dollar.
- Silver pulled back amid profit-taking.
- Platinum climbed above the resistance at $1050 - $1055.
Gold
Gold pulls back as U.S. dollar moves higher after the better-than-expected JOLTs Job Openings report.
The technical picture remains unchanged as gold needs to settle above the $3360 level to gain additional upside momentum in the near term.
Silver
Silver is losing some ground as traders take profits off the table after the strong rally.
If silver manages to settle above the resistance at $34.40 – $34.60, it will move towards the next resistance level, which is located in the $35.65 – $35.85 range.
Platinum
Platinum climbed above the $1055 level and is trying to settle above $1065. Palladium markets are up by 2.5%, which is bullish for platinum.
If platinum moves above the $1065 level, it will head towards the resistance level at $1090 – $1095.
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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