Gold, silver and platinum take a rest

April 15, 2020

New York (Apr 15)  After charging to new recent highs, gold, silver and platinum are taking a rest with a pullback this morning. The action started to take place late Tuesday when gold came under heavy selling pressure but still managed to close higher on the day. The action we are seeing is bullish, and retracements are healthy for markets.

June gold futures made a new recent high at $1,788.80. Silver and platinum reached resistance and pulled back. Gold remains the strongest of all in a solid uptrend that should take it to the next level over $1,800. New all-time highs are in our sights, although there will be some barriers on the way.

Silver and platinum have both reached resistance; both are in the same pattern and should break out to the upside. We expect both to reach and surpass their recent highs. The metals look healthy, strong and ready to rip higher. Like any market, this pattern can change, but for now its full steam ahead.


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