Precious Metals "Red Hot" Rally Set to Continue, Say Strategists

24.05.17 Uncategorized

Gold, silver, and platinum prices have surged following softer-than-expected U.S. inflation data, which raises the prospect of Federal Reserve rate cuts. Gold reached a three-week high, silver hit its highest level in over three years, and platinum climbed to a near one-year peak. Saxo Bank strategists predict gold could soon test $2,400, silver may reach $30, and platinum has the potential to hit $1,130 per ounce. Despite some cautious forecasts, analysts from ROTH Capital Partners see gold potentially reaching $2,600 and silver climbing as high as $37.

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