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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests Key Support Level As Traders Wait For Geopolitical News
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Key Points:
- Gold is trying to settle below the $3350 level.
- Silver is losing ground as gold/silver ratio moved back above the 93.00 level.
- Platinum pulled back towards $1250 as traders took profits after the strong rally.
Gold
Gold continues its attempts to settle below the nearest support level at $3350 – $3360 amid lack of additional positive catalysts.
If gold manages to settle below $3350, it will head towards the next support level at $3235 – $3245.
Silver
Silver tested new lows as gold/silver ratio climbed back above the 93.00 level. RSI is in the moderate territory, and there is enough room to gain momentum in the near term.
A successful test of the support at $35.65 – $35.85 will open the way to the test of the next support level at $34.60 – $34.80.
Platinum
Platinum pulled back as traders continued to take profits after the strong rally.
If platinum stays below the $1275 level, it will head towards the support level at $1195 – $1200.
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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