Advertisement
Advertisement
Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats As Treasury Yields Soar
By:
Silver tested multi-year highs as rally continued.
Gold
Gold pulled back as traders reacted to the better-than-expected Non Farm Payrolls report. Treasury yields moved higher, which was bearish for gold.
In case gold settles below the $3000 level, it will head towards the support level at $3235 – $3245.
Silver
Silver tested new highs as gold/silver ratio pulled back towards the 92.00 level.
RSI has recently moved into the overbought territory, but there is enough room to gain momentum in case the right catalysts emerge.
Platinum
Platinum climbed above the resistance at $1135 – $1140 as the strong rally continued.
If platinum stays above the $1150 level, it will head towards the next resistance, which is located in the $1195 – $1200 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.
Advertisement