Gold, Silver, Platinum Forecasts – Gold Dives 3% After Successful U.S. – China Talks

Gold

Gold is under strong pressure as traders react to the results of U.S. – China trade talks. Demand for safe-haven assets declined as U.S. and China reduced tariffs.

In case gold settles below the support at $3235 – $3245, it will move towards the next support level at $3140 – $3150.

Silver

Silver moved lower as traders focused on tariff news. However, the pullback in gold/silver ratio provided some support to silver in today’s trading session.

If silver settles back above the $32.50 level, it will head towards the nearest resistance level at $33.00 – $33.20.

Platinum

Platinum is losing ground amid broad pullback in precious metals markets. Palladium markets are down by 4.2%, which is bearish for platinum.

A move below the support at $960 – $965 will open the way to the test of the next support level at $930 – $935.

For a look at all of today’s economic events, check out our economic calendar.