Key Insights
- Gold is trying to settle below the support at $1975.
- Silver is losing ground as gold/silver ratio continues to move higher.
- Platinum pulls back on profit-taking.
Gold
Gold is losing ground ahead of the Fed decision as traders focus on stronger dollar.
In case gold settles below the support at $1975 – $1985, it will move towards the next support level at $1940 – $1950.
Silver
Silver pulled back as gold/silver ratio settled above the 87 level and continued to move higher.
RSI remains in the moderate territory, so silver has a good opportunity to gain downside momentum in case it settles below the $22.25 level.
Platinum
Platinum is moving lower amid a broad pullback in precious metals markets. Profit-taking serves as an additional bearish catalyst for platinum.
If platinum settles back below the support at $925, it will head towards the $900 level.
For a look at all of today’s economic events, check out our economic calendar.
