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Gold, Silver, Platinum Forecasts – Gold Pulls Back From Historic Highs
By:
Key Points:
- Gold declined below the $3040 level amid profit-taking.
- Silver pulled back below $33.50 as gold/silver ratio tested the 91 level.
- Platinum declined towards the support at $980 - $985.
Gold
Gold pulled back below the $3040 level as traders took some profits off the table near historic highs.
If gold settles below the $3025 level, it will head towards the nearest support, which is located in the $2995 – $3005 range.
Silver
Silver is losing ground as gold/silver ratio made an attempt to settle above the 91 level.
If silver declines below the support at $32.75 – $33.00, it will head towards the next support level at $31.45 – $31.75.
Platinum
Platinum retreats amid broad pullback in precious metals markets. Trade war fears continue to put pressure on platinum.
A move below the $980 level will push platinum towards the next support at $930 – $945.
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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