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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Soars As Geopolitical Risks Increase
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Key Points:
- Gold climbed above the $3350 level.
- Silver tested the key resistance level at $34.40 - $34.60.
- Platinum made an attempt to settle back above the $1055 level.
Gold
Gold rallied as traders focused on weaker dollar and rising geopolitical tensions. Trade war worries provided additional support to gold markets.
If gold settles above the resistance at $3350 – $3360, it will head towards the next resistance level at $3490 – $3500.
Silver
Silver tested new highs as gold/silver ratio pulled back below the 98.00 level. Currently, silver is trying to settle above the resistance at $34.40 – $34.60.
In case this attempt is successful, silver will move towards the next resistance at $35.65 – $35.85.
Platinum
Platinum rebounded from session lows amid broad rally in commodity markets.
In case platinum settles back above the $1055 level, it will head towards the next resistance 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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