Gold, Silver, Platinum Forecasts – Gold Tests New Highs As Trade War Begins

NEW YORK (February 3) Gold tested new highs as demand for safe-haven assets increased amid trade wars. U.S. has already paused tariffs on Mexico, but this move did not put significant pressure on gold markets.

If gold settles above the $2820 level, it will head towards new highs near the $2850 level.

Silver

Silver 030225 Daily Chart

Silver tested resistance at $31.45 – $31.75 as traders focused on the strong performance of gold markets.

A successful test of the resistance at $31.45 -$31.75 will push silver towards the next resistance at $32.75 – $33.00.

Platinum

Platinum 030225 Daily Chart

Platinum suffered a strong sell-off after an unsuccessful attempt to settle above the resistance at $1025 – $1030.

In case platinum declines below the support at $980 – $985, it will move towards the next support level at $935 – $940.

FXEmpire