Gold, Silver, Platinum Forecasts – Gold Dives Below $3020 On Profit-Taking

Gold

Gold pulls back as traders focus on U.S. dollar’s rebound from multi-month lows and take some profits off the table.

A successful test of the support at $2995 – $3005 will push gold towards the next support level at $2930 – $2940.

Silver

Silver tested new lows as gold/silver ratio climbed towards the 91.50 level. Rising gold/silver ratio continues to put pressure on silver markets.

If silver settles below the $32.75 level, it will head towards the next support level at $31.45 – $31.75.

Platinum

Platinum remains under pressure as the strong pullback continues. From the technical point of view, platinum moved below the support at $980 – $985.

If platinum stays below the $980 level, it will move towards the support level at February lows at $930 – $935.

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