Gold, Silver, Platinum Forecasts: Tracking the Ongoing Rally
Gold Price Action
Gold tested new highs as the strong rally continued. The RSI is in the overbought territory, but traders seem to ignore the risks of a pullback while focusing on strong demand from central banks.
- A move above the resistance at $2675 – $2685 will open the way to the test of the $2700 level.
Silver Market Update
Silver tested new highs as the gold/silver ratio pulled back below the 83.50 level. Currently, silver is attempting to settle above the $32.00 level.
- If this attempt is successful, silver will aim for the next resistance at $34.00 – $34.25.
Platinum Trends
Platinum has settled above the previous resistance at $975 – $985 and has rallied above the $1000 level. The next resistance level for platinum is located in the $1020 – $1030 range.
- A move above $1030 will provide platinum with the opportunity to gain additional upside momentum.
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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.