Key Insights
- Gold is moving lower amid a broad pullback in precious metals markets.
- Silver is trying to settle below the $23.00 level.
- Platinum moved below $920 as the strong pullback continued.
Gold
Gold is losing some ground as traders stay cautious ahead of the release of U.S. inflation data.
If gold manages to settle below the nearest support at $2015 – $2025, it will head towards the next support level, which is located in the $2065 – $2075 range.
Silver
Silver remains under pressure amid a broad pullback in precious metals markets.
In case silver stays below the $23.00 level, it will move towards the next support level at $22.25 – $22.50.
Platinum
Platinum tests new lows as traders are worried that demand for the metal would decline.
In case platinum stays below the $925 level, it will move towards the support at $880 – $890.
For a look at all of today’s economic events, check out our economic calendar.
