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Gold, Silver, Platinum Forecasts – Gold Dives Below $2750 Amid Profit-Taking
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Key Points:
- Gold moved below the $2750 level as traders took profits after the strong rally.
- Silver declined below the $33.00 level as gold/silver ratio moved above 83.50.
- Platinum made an attempt to settle below the $985 level.
Gold
Gold is losing ground as traders take profits off the table near historic highs.
In case gold settles below the $2715 level, it will head towards the nearest significant support level at $2675 – $2685.
Silver
Silver is down by more than 3% as gold/silver ratio moved above the 83.50 level.
In case silver stays below $33.00, it will head towards the support level at $31.45 – $31.75.
Platinum
Platinum tested new lows amid broad sell-off in precious metals markets.
From the technical point of view, platinum needs to settle below the support at $975 – $985 to gain additional downside momentum.
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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