Gold, Silver, Platinum Forecasts – Gold Remains Stuck Below $2000

Key Insights

• Gold gains some ground while traders are waiting for catalysts. 
• Silver settled above the nearest support at $23.40 – $23.60.
• Platinum declined below the $920 level as the pullback continued. 

Gold

Gold remains stuck below the key $2000 level as traders wait for catalysts during the U.S. holiday.

If gold manages to settle above the $2000 level, it will gain additional upside momentum and move towards the resistance at $2015 – $2025.

Silver

Silver continues to trade above the nearest support level at $23.40 – $23.60 as U.S. dollar is losing ground against a broad basket of currencies.

From the technical point of view, silver needs to settle above the $24.00 level to gain momentum.

Platinum

Platinum remains under pressure as traders continue to take profits after the recent rally.

The nearest significant support level for platinum is located in the $880 – $890 range, but platinum may also get some support at the 50 MA at $900.

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