SLV

Gold, Silver, Platinum Forecasts – Gold Tests Historic Highs After Iranian President Dies In Helicopter Crash

FXEmpire.com -

Gold

Gold 200524 Daily Chart

Gold tested new highs as traders reacted to geopolitical developments. Demand for safe-haven gold increased after Iranian President Ebrahim Raisi died in mysterious helicopter crash.

Gold made an attempt to settle above the $2450 level but lost momentum as some traders decided to take profits near historic highs. A move above $2450 will push gold towards the $2500 level.

Silver

Silver 200524 Daily Chart

Silver tested new highs as the strong rally continued. RSI is in the overbought territory, so the risks of a pullback are rising.

If silver stays above the $31.20 level, it will head towards the resistance at $33.50 – $34.00.

Platinum

Platinum 200524 Daily Chart

Platinum pulled back as traders decided to take some profits off the table after the strong rally.

In case platinum settles back below the $1050 level, it will head towards the nearest support at $1010 – $1020.

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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