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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Treasury Yields Pull Back
By:
Key Points:
- Gold is heading towards the $3400 level.
- Silver is trying to settle above the resistance at $34.40 - $34.60.
- Platinum climbed above the $1080 level.
Gold
Gold is moving higher as traders focus on the strong pullback in Treasury yields, which was triggered by weak economic data.
If gold climbs above the $3400 level, it will head towards the resistance, which is located at historic highs at $3490 – $3500.
Silver
Silver continues its attempts to settle above the nearest resistance level at $34.40 – $34.60.
In case silver manages to settle above the $34.60 level, it will head towards the next resistance at $35.65 – $35.85.
Platinum
Platinum gained upside momentum and moved towads the resistance level at $1090 – $1095.
A successful test of this level will open the way to the test of the next resistance at $1135 – $1140.
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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