Gold, Silver, Platinum Forecasts – Gold Pulls Back As Demand For Safe-Haven Assets Declines
Key Insights
- Gold is trying to settle below the $1975 level.
- Silver pulled back as gold/silver ratio climbed above the 84 level.
- Platinum rallied as traders bet on rising demand.
Gold
Gold pulls back as demand for safe-haven assets declines. At this point, gold needs additional catalysts to settle above the key $2000 level.
From the technical point of view, gold needs to settle above the resistance at $1975 – $1985 to have a chance to gain sustainable upside momentum.
Silver
Silver declined towards $23.50 as gold/silver ratio climbed above the 84 level.
If silver settles below $23.60, it will find itself in the previous trading range at $22.25 – $23.60.
Platinum
Platinum rallied towards the $920 level as traders bet on rising demand for the metal.
The nearest resistance level for platinum is located in the $925 – $935 range. A move above $935 will push platinum towards the next resistance at $990 – $1000.
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