Gold, Silver, Platinum Forecasts – Gold Pulls Back As Dollar Tests Multi-Week Highs

Gold

Gold pulled back as U.S. dollar rallied after the release of the better-than-expected Non Farm Payrolls report.

In case gold declines below the recent lows at $2625, it will head towards the nearest material support level at $2580 – $2590.

Silver

Silver tested yearly highs as gold/silver ratio declined below the 81.50 level before moving back above 82.00.

A move above $32.50 will push silver towards the next resistance level at $34.00 – $34.25.

Platinum

Platinum is losing ground as traders focus on strong U.S. dollar and the rally in Treasury yields.

A successful test of the nearest support at $975 – $985 will push platinum towards the next support level at $935 – $940.

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