Gold, Silver, Platinum Forecasts – Gold Retreats As Traders React To U.S. PPI Report

Gold

Gold retreats as traders react to the higher-than-expected U.S. PPI report. Stronger dollar and rising Treasury yields put additional pressure on gold markets.

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

Silver

Silver is under strong pressure as gold/silver ratio climbed above the 86.50 level.

If silver stays below the $31.00 level, it will head towards the $30.00 level. A move below $30.00 will open the way to the test of the support at $28.75 – $29.00.

Platinum

Platinum is losing ground amid broad pullback in precious metals markets. Palladium is down by 1.6%, which is bearish for platinum.

In case platinum settles below the support at $935 – $945, it will head towards the next support level at $895 – $905.

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