Gold, Silver, Platinum Forecasts – Gold Moves Lower As U.S. Plans To Impose 104% Tariffs On China

Gold

Gold is losing ground as traders react to tariff news. The U.S. plans to proceed with 104% tariffs on China.

In case gold stays below the $2995 level, it will move towards the next support level, which is located in the $2940 – $2950 range.

Silver

Silver is losing ground as gold/silver ratio is trying to settle back above the psychologically important 100 level.

If silver declines below the $29.75 level, it will move towards the support level at $28.50 – $28.70.

Platinum

Platinum is moving lower as traders worry about the strength of demand for the metal amid trade wars.

A move below the $895 level opens the way to the test of the support, which is located near recent lows at $870 – $875.

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