Gold, Silver, Platinum Forecasts – Gold Climbed Above $2660 As Treasury Yields Pulled Back
Gold
Gold is moving higher as traders focus on the pullback in Treasury yields. From a big picture point of view, market sentiment remains bullish amid geopolitical tensions.
If gold climbs above the resistance at $2675 – $2685, it will get to the test of the psychologically important $2700 level.
Silver
Silver continues its attempts to settle above the resistance at $31.45 – $31.75 as gold/silver ratio pulled back below the 84.50 level.
A move above the $31.75 level will push silver towards the recent highs near the $33.00 level.
Platinum
Platinum pulled back as traders worried that China’s stimulus measures would not provide sufficient support to the economy.
If platinum declines below the $975 level, it will head towards the 50 MA at $958.
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