Gold, Silver, Platinum Forecasts – Gold Tests The Key $2000 Level
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Key Insights
- Gold remains stuck near the $2000 level.
- Silver tested new highs as gold/silver ratio settled below the 83 level.
- Platinum moved towards $935 as demand for precious metals increased.
Gold
Gold continues its attempts to settle above the $2000 level as U.S. dollar remains under pressure against a broad basket of currencies.
If gold manages to settle above $2000, it will get to the test of the resistance at $2015 – $2025.
Silver
Silver gained upside momentum and tested new highs as gold/silver ratio pulled back below the 82.50 level.
From the technical point of view, silver looks ready to move towards the next resistance level at $25.00 – $25.30.
Platinum
Platinum gained ground as demand for precious metals increased. Rising Treasury yields did not put pressure on platinum markets today.
A successful test of the resistance at $925 – $935 will push platinum towards the next resistance level at $990 – $1000.
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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