Gold, Silver, Platinum Forecasts – Gold Rebounds Above $2000 As Dollar Pulls Back

Key Insights

• Gold gained ground as traders focused on the weak U.S. Retail Sales data. 
• Silver made an attempt to settle above the $23.00 level as gold/silver ratio tested new lows. 
• Platinum tested the $900 level. 

Gold

Gold rebounds as U.S. dollar pulls back after the release of the disappointing Retail Sales data.

In case gold manages to settle above the $2000 level, it will move towards the nearest resistance, which is located in the $2015 – $2025 range.

Silver

Silver rallied as gold/silver ratio pulled back below the 87.50 level. From a big picture point of view, gold/silver ratio continues to move lower after an unsuccessful attempt to settle above the 90 level, which is bullish for silver.

In case silver settles above the $23.00 level, it will head towards the resistance at $23.40 – $23.60.

Platinum

Platinum is trying to settle above the $900 level amid a broad rebound in precious metals markets.

In case this attempt is successful, platinum will head towards the resistance in the $925 – $935 range.

For a look at all of today’s economic events, check out our economic calendar.