Gold, Silver, Platinum Forecasts – Gold Stays Above $2500 As Traders Wait For Catalysts
Gold
Gold made an attempt to settle back below the $2500 level amid profit-taking, but quickly moved back as demand for precious metals remained strong.
From the technical point of view, gold needs to settle above the resistance at $2520 – $2530 to gain additional upside momentum.
Silver
Silver gained some ground as gold/silver ratio pulled back towards the 85.00 level.
In case silver manages to climb above the $30.00 level, it will move towards the nearest resistance at $31.40 – $31.75.
Platinum
Platinum moved higher as traders shrugged off worries about China’s economic problems and focused on falling Treasury yields.
A successful test of the resistance at $975 – $985 will push platinum towards the next resistance level at $1020 – $1030.
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