Gold, Silver, Platinum Forecasts – Gold Pulls Back As Dollar Rebounds

Gold

Gold is losing ground as traders focus on stronger dollar and rising Treasury yields. Profit-taking remains an important catalyst for the market.

A move below the support at $2445 – $2450 will open the way to the test of the next support level at $2390 – $2400.

Silver

Silver pulls back as gold/silver ratio tests new highs. Currently, gold/silver ratio is trying to settle above the 82 level.

If silver declines below the $30.00 level, it will move towards the nearest support at $28.75 – $29.00.

Platinum

Platinum is under strong pressure amid broad pullback in precious metals markets. Palladium markets are down by 2.4% today, which is bearish for platinum.

Currently, platinum is trying to settle below the support at $975 – $985. In case this attempt is successful, it will head towards the next support level at $935 – $940.

For a look at all of today’s economic events, check out our economic calendar.