Gold, Silver, Platinum Forecasts – Gold Retreats As Treasury Yields Rally

Gold

Gold pulls back as traders focus on stronger dollar and rising Treasury yields. From a big picture point of view, traders are worried about hawkish Fed.

In case gold settles below the 50 MA at $2321, it will get to the test of the nearest support at $2295 – $2305.

Silver

Silver markets stay strong as gold/silver ratio tests new lows. Currently, gold/silver ratio is trying to settle below the 73 level.

In case silver climbs above the recent highs at $32.50, it will move towards the resistance at $33.50 – $34.00.

Platinum

Platinum  is under pressure as traders use the recent rebound as an opportunity to take some profits off the table near multi-month highs.

If platinum settles below the $1040 level, it will move towards the support at $1010 – $1020.

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