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Gold (XAUUSD), Silver, Platinum Forecasts – Silver Soars Above $36.50 As Rally Continues
By:
Key Points:
- Gold rebounds after pullback as Treasury yields fall.
- Silver tests multi-year highs as gold/silver ratio continues to move lower.
- Platinum attempts to settle above the resistance at $1195 - $1200.
Gold
Gold is moving higher as traders focus on weaker dollar and pullback in Treasury yields.
If gold climbs above the resistance at $3350 – $3360, it will head towards the resistance level at $3490 – $3500.
Silver
Silver tests new highs as gold/silver ratio pulled back below the 91.00 level.
A move above the $37.00 level will open the way to the test of the resistance level at $37.30 – $37.50.
Platinum
Platinum attempts to settle above the resistance at $1195 – $1200 as the strong rally continues.
RSI is in the extremely overbought territory, so the risks of a pullback are increasing.
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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