Gold, Silver, Platinum Forecasts – Gold Pulled Back Below $2650

Gold

Gold pulls back as traders continue to take profits after the strong rally. U.S. dollar’s rebound put additional pressure on gold markets today.

In case gold declines below the $2620 level, it will head towards the nearest support at $2580 – $2590.

Silver

Silver is losing ground as gold/silver ratio climbed towards the 84.50 level.

From the technical point of view, silver did not manage to settle above the resistance at $31.45 – $31.75.

Platinum

Platinum is under strong pressure amid broad pullback in precious metals markets. The sell-off in palladium markets served as an additional bearish catalyst for platinum.

If platinum settles below the support at $975 – $985, it will move towards the next support level at $935 – $940.

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