Gold, Silver, Platinum Forecasts – Gold Dives 3% As Powell’s Job Looks Safe

Gold

Gold is under strong pressure as Donald Trump said that he did not plan to fire Fed Chair Jerome Powell.

The nearest support level for gold is located in the $3235 – $3245 range. A move below the $3235 level will push gold towards the next support at $3140 – $3150.

Silver

Silver tests new highs as gold/silver ratio pulled back below the 88.00 level.

In case silver stays above the $33.20 level, it will head towards the resistance level at $34.40 – $34.60.

Platinum

Platinum tests resistance at $960 – $965 as traders bet that U.S. and China will find a way to get out of the trade war. Donald Trump said that he could reach a deal with China and reduce tariffs on Chinese goods.

A move above the $965 level will push platinum towards the resistance at $1010 – $1015.

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