Gold, Silver, Platinum Forecasts – Gold Retreats Amid Broad Pullback In Precious Metals Markets

Gold

Gold retreats as traders continue to take profits near historic highs. At this point, it looks that the market needs more catalysts to test the $2500 level.

If gold settles below $2445, it may gain additional downside momentum and move towards the support at $2390 – $2400.

Silver

Silver tests support at $27.20 – $27.50 as gold/silver ratio climbed towards the 89.50 level. Rising gold/silver ratio is a key problem for silver bulls.

A successful test of the support at $27.20 – $27.50 will push silver towards the next support level at $25.20 – $25.60.

Platinum

Platinum retreats after an unsuccessful attempt to settle above the resistance at $935 – $940.

A move below the $910 level will open the way to the test of the nearest support at $880 – $890.

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