Gold Rebounds After Strong Pullback – Silver, Platinum Forecasts
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Key Points:
- Gold climbed back above the $4100 level.
- Silver attempts to settle above $49.00 as trades bet on a rebound.
- Platinum tested the $1600 level.
Gold
Gold is moving higher as traders increase their long positions after the strong pullback.
A move above the resistance at $4170 – $4180 will push gold towards the next resistance level at $4370 – $4380.
Silver
Silver gained ground as gold/silver ratio pulled back towards the 84.00 level.
In case silver settles above the resistance at $49.60 – $49.80, it will head towards the next resistance level at $54.30 – $54.50.
Platinum
In case platinum settles above the $1600 level, it will get to the test of the nearest resistance at $1620 – $1630.