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Gold, Silver, Platinum Forecasts – Gold Pulls Back Below $2500 As Dollar Tests Weekly Highs
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Key Points:
- Gold did not manage to settle above the key resistance at $2520 - $2530.
- Silver is trying to settle below the support at $28.75 - $29.00.
- Platinum tests new lows amid broad pullback in precious metals markets.
Gold
Gold pulls back after an unsuccessful attempt to settle above the resistance at $2520 – $2530.
If gold settles below the $2500 level, it will move towards the support at $2445 – $2450.
Silver
Silver tests support at $28.75 – $29.00 as gold/silver ratio climbed towards the 87.00 level.
In case this test is successful, silver will head towards the next support level at $27.20 – $27.50.
Platinum
Platinum is losing ground amid broad pullback in precious metals markets. Rising Treasury yields and stronger U.S. dollar put pressure on platinum.
A move below the $920 level will push platinum towards the next support at $890 – $900.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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