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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As U.S. Dollar Moves Lower
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Key Points:
- Gold is trying to settle back above the $3250 level.
- Silver attempts to settle above the resistance level at $33.00 - $33.20.
- Platinum rebounded towards the $980 level.
Gold
Gold is moving higher as traders focus on U.S. dollar’s pullback, which was triggered by the U.S. Inflation Rate report.
In case gold manages to settle above the $3250 level, it will head towards the $3300 level.
Silver
Silver continues its attempts to settle above the strong resistance at $33.00 – $33.20 as gold/silver ratio pulled back towards the 98.50 level.
A successful test of the resistance at $33.00 – $33.20 will push gold towards the next resistance at $34.40 – $34.60.
Platinum
Platinum rebounds after yesterday’s sell-off as traders focus on the weakness of the U.S. dollar.
If platinum climbs above the $980 level, it will move towards the psychologically important $1000 level.
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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