Gold, Silver, Platinum Forecasts – Gold Pulled Back From Historic Highs

Gold

Gold tested new highs but lost momentum and pulled back as traders took some profits off the table after the strong rally.

RSI remains in the overbought territory, so the risks of a pullback are increasing.

Silver

Silver made an attempt to settle above the resistance at $34.00 – $34.25 but did not manage to gain sufficient momentum.

RSI remains in the moderate territory despite the strong rally, so silver has a decent chance to climb above the $34.25 level in the near term.

Platinum

Platinum moved lower as traders focused on the strong pullback in palladium markets, which are down by 2.5%.

From the technical point of view, platinum settled in a range between the support at $975 – $985 and the resistance at $1020 – $1030.

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