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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As Dollar Falls
By:
Key Points:
- Gold rebounded above the $3300 level.
- Silver remained stuck near the key support level.
- Platinum was swinging between gains and losses in volatile trading.
Gold
Gold rebounds as traders focus on the strong pullback of the U.S. dollar and falling Treasury yields.
A move above the resistance at $3350 – $3360 will push gold towards the next resistance level at $3490 – $3500.
Silver
Silver remains stuck near the strong support level at $33.00 – $33.20 as traders wait for stronger catalysts.
If silver climbs above the $33.50 level, it will head towards the resistance at $34.40 – $34.60.
Platinum
Platinum is mostly flat in volatile trading. Platinum made another attempt to settle above the $1090 level but failed to develop sufficient momentum.
A move below the $1050 level will open the way to the test of the support level 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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