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Gold, Silver, Platinum Forecasts – Gold Dives 2% Amid Falling Demand For Safe-Haven Assets
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Key Points:
- Gold declined below the $3200 level.
- Silver pulled back towards the $32.00 level.
- Platinum moved lower as demand for precious metals declined.
Gold
Gold tested new lows as demand for safe-haven assets declined after Trump talked about potential trade deals with Japan, Korea, and India.
From the technical point of view, gold settled below the previous support at $3235 – $3245 and is moving towards the next support level at $3140 – $3150.
Silver
Silver suffered a strong sell-off as traders focused on the weakness of gold markets.
If silver declines below the $32.00 level, it will get to the test of the nearest support level at $31.45 – $31.75.
Platinum
Platinum moved lower amid broad pullback in precious metals markets, which was triggered by trade optimism.
A successful test of the support level at $960 – $965 will push silver towards the next support at $930 – $935.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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