Gold, Silver, Platinum Forecasts – Gold Retreats Ahead Of The Weekend

Gold

Gold is losing ground as traders focus on U.S. dollar’s rebound. From a big picture point of view, traders are worried that Fed may be less dovish than previously expected.

A move below the support at $2675 – $2685 will push gold towards the next support level at $2580 – $2590.

Silver

Silver  is under pressure as gold/silver ratio climbed above the 85.50 level. RSI is in the moderate territory, and there is enough room to gain momentum in the near term.

If silver settles below $31.45, it will head towards the next support level at $28.75 – $29.00.

Platinum

Platinum is down by 3% as China did not provide additional stimulus to boost demand.

In case platinum stays below the $975 level, it will move towards the next support level at $935 – $945.

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