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

Gold

Gold pulled back after an unsuccessful attempt to settle above the $2300 level. Traders take some profits off the table after the strong rally.

Gold remains overbought so it may gain additional downside momentum in the near term.

Silver

Silver is also losing some ground amid profit-taking. Gold/silver ratio stabilized near the 84.50 level. If gold/silver ratio moves below 84, silver will get additional support.

In case silver stays above the $27.00 level, it will head towards the nearest resistance, which is located in the $27.75 – $28.00 range.

Platinum

Platinum continues its attempts to settle above the important resistance at $925 – $935.

In case platinum manages to settle above this level, it will move towards the next resistance at $975 – $985.

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