Gold, Silver, Platinum Forecasts – Gold Retreats As Traders Wait For Powell’s Comments

Gold

Gold pulls back as traders take some profits off the table ahead of the Fed decision, which will be released soon.

A move below the $3350 level will push gold towards the next support level at $3235 – $3245.

Silver

Silver pulled back towards the $32.50 level as gold/silver ratio climbed towards the 104.00 level.

If silver settles below $32.50, it will head towards the nearest support at $31.45 – $31.75.

Platinum

Platinum moved lower amid broad pullback in precious metals markets. Traders are cautious ahead of Fed decision.

From the technical point of view, platinum needs to settle below the support at $960 – $965 to gain additional downside momentum in the near term.

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