Gold, Silver, Platinum Forecasts – Gold Tests $2360 As Pullback Continues

Gold

Gold gained strong momentum after a successful test of the support at $2390 – $2400.

In case gold manages to settle below the 50 MA at $2360, it will move towards the next support level at $2295 – $2305.

Silver

Silver is under strong pressure as gold/silver ratio rallied towards the 85 level.

From the technical point of view, silver managed to settle below the previous support at $28.75 – $29.00 and moved towards the next support at $27.20 – $27.50. RSI remains in the moderate territory, so there is plenty of room to gain additional momentum in case the right catalysts emerge.

Platinum

Platinum tests new lows amid broad pullback in precious metals markets. It looks that some traders must raise money after the sell-off in U.S. equity markets.

If platinum settles below the $935 level, it will head towards the support at $890 – $900.

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