Gold, Silver, Platinum Forecasts – Gold Dives Below $2000

Key Insights

• Gold settled below the psychologically important $2000 level. 
• Silver moved below the $23.00 level. 
• Platinum pulled back towards $915 after an unsuccessful attempt to settle above the $925 level. 

Gold

Gold retreats as U.S. dollar tests weekly highs. Treasury yields continue to rebound from multi-week lows, which is bearish for gold markets.

In case gold settles below the support at $1975 – $1985, it will head towards the next support level at $1935 – $1945.

Silver

Silver remains under strong pressure amid a broad sell-off in precious metals markets.

The nearest support level for silver is located in the $22.25 – $22.50 range. RSI is in the moderate territory, so there is plenty of room to gain additional downside momentum.

Platinum

Platinum made an attempt to settle above the $925 level but lost momentum and pulled back.

In case platinum moves below the 50 MA at $901, it will head towards the support level at $880 – $890.

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