Gold, Silver, Platinum Forecasts – Gold Stays Above $2300 As Traders Prepare For Fed Decision

Gold

Gold received strong support at $2295 – $2305 despite strong dollar. Traders are not ready for big moves ahead of the Fed decision, which will be released tomorrow.

If gold declines below the $2295 level, it will gain additional downside momentum and move towards the support at $2190 – $2200.

Silver

Silver pulls back as gold/silver ratio rebounded above the 79 level. In case gold/silver ratio climbs above 80, silver will find itself under more pressure.

A successful test of the nearest support at $28.75 – $29.00 will push silver towards the next support level at $27.20 – $27.50.

Platinum

Platinum tests new lows amid broad pullback in precious metals markets. Palladium, which is down by 2.3%, is also losing ground in today’s trading session.

If platinum settles below the $950 level, it will head towards the support at $925 – $935.

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