Gold, Silver, Platinum Forecasts: Insights into Market Dynamics
Gold Outlook
Gold is trying to settle back above the $2500 level as traders react to the weaker-than-expected U.S. job market data. A move above $2500 will push gold towards the nearest resistance at $2520 – $2530.
Silver Market Dynamics
Silver gains ground as the gold/silver ratio pulled back below the 88.50 level. In case silver stays above the $28.00 level, it will head towards the resistance located in the $28.75 – $29.00 range.
Platinum Pressure
Platinum remains under pressure amid worries about China’s economic problems. Falling Treasury yields and U.S. dollar’s pullback did not provide support to platinum markets. A move below the support at $980 – $900 will provide platinum with an opportunity to gain additional downside momentum.
Today’s Economic Events
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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.