Gold, Silver, Platinum Forecasts – Gold Tests New Highs As Dollar Retreats

Gold

Gold tested new highs as traders focused on U.S. dollar’s pullback and falling Treasury yields.

RSI is close to the overbought territory, and it looks that some traders are willing to take profits off the table near historic highs.

Silver

Silver made an attempt to settle above the $31.00 level but lost momentum and pulled back amid profit-taking.

In case silver declines below the $30.50 level, it will head towards the psychologically important $30.00 level.

Platinum

Platinum pulls back as traders take profits after the strong rebound from September lows.

A move below the support at $975 – $985 will push platinum towards the 50 MA at $950.

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