Gold, Silver, Platinum Forecasts – Gold Pulls Back From Historic Highs

Gold

Gold tested new highs but lost momentum and pulled back as traders focused on rising Treasury yields.

If gold settles below the $2830 level, it will move towards the nearest support, which is located in the $2780 – $2790 range.

Silver

Silver declined below the $32.00 level as gold/silver ratio climbed above the 89.00 level.

The nearest support level for silver is located in the $31.45 – $31.75 range. A move below the $31.45 level will push silver towards the 50 MA at $30.55.

Platinum

Platinum is mostly flat after an unsuccessful attempt to settle above the resistance level at $1025 – $1030.

If platinum pulls back below the $1000 level, it will move towards the support level at $980 – $985.

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