Gold, Silver, Platinum Forecasts – Gold Retreats As Demand For Precious Metals Declines

Gold

Gold moved lower after an unsuccessful attempt to settle above the $2650 level. U.S. dollar’s pullback did not provide any support to gold markets today.

If gold settles below the $2620 level, it will head towards the nearest support level at $2580 – $2590.

Silver

Silver made an attempt to climb above the resistance at $31.45 – $31.75 but failed to develop sufficient upside momentum and pulled back.

If silver settles below the $31.00 level, it will head towards the recent lows near the $30.00 level.

Platinum

Platinum is losing ground amid broad pullback in precious metals markets.

If platinum declines below the support at $935 – $945, it will head towards the next support level, which is located in the $895 – $905 range.

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