Gold, Silver, and Platinum Forecasts: Rally Continues
Gold Forecast: New Records and Resistance Levels
Gold tested new highs as traders focused on U.S. dollar pullback. Falling Treasury yields provided additional support to gold markets. The nearest resistance level for gold is located in the $2520 – $2530 range. A move above $2530 will push gold towards the $2550 level.
Silver Forecast: Pullbacks Amid Market Dynamics
Silver pulls back as the gold/silver ratio climbed above 85. Traders take some profits after the strong rebound from August lows. If silver moves above $30.00, it will head towards the resistance at $31.40 – $31.75.
Platinum Forecast: Concerns from Economic Signals
Platinum pulls back amid concerns about the health of China’s economy. Palladium markets are also moving lower, creating a bearish sentiment for platinum. If platinum settles below the support at $935 – $940, it will head towards the next support level at $880 – $890.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.