Gold, Silver, Platinum Forecasts – Gold Moves Higher As Dollar Retreats

Gold

Gold continues to rebound as traders focus on U.S. dollar’s pullback, which was triggered by the weak Manufacturing PMI report.

In case gold settles above the recent highs near the $2430 level, it will move towards the nearest resistance at $2445 – $2450.

Silver

Silver is losing ground as gold/silver ratio is moving towards the 83 level. RSI is in the moderate territory, so there is plenty of room to gain momentum in the near term.

In case silver declines below the support at $28.75 – $29.00, it will move towards the next support level, which is located in the $27.20 – $27.50 range.

Platinum

Platinum is up by more than 1% as traders bet on a rebound after the recent pullback.

A move above the $960 level will open the way to the test of the resistance at $975 – $985.

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