Gold, Silver, Platinum Forecasts - Insights Amid Dovish Fed Policy
Gold Forecast: Testing Historic Highs
Gold's recent performance shows that it is testing historic highs as traders remain focused on the dovish Fed policy outlook, which is bullish for precious metals. The RSI has recently moved into the overbought territory, indicating that there is potential for further momentum in the near term.
Silver Forecast: Strong Resistance Levels
Silver is currently attempting to settle above the strong resistance levels of $31.45 and $31.75. Traders are closely monitoring Gold's performance, which influences Silver’s opportunity for upside movement. A decisive breakthrough above $31.75 could provide Silver with the momentum it needs.
Platinum Forecast: Facing Challenges
In contrast, Platinum has faced difficulties after an unsuccessful attempt to settle above the $990 level. If Platinum pulls back below $970, it risks heading towards the 50 MA around $950. The market is keen on observing how these movements will unfold in the coming days.
For a look at all of today’s economic events, refer to our economic calendar.
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.