Gold, Silver, Platinum Forecasts – Gold Tests The $1850 Level
- Gold is losing ground as traders worry about potential rate hikes.
- Silver tests the key support in the $22.25 – $22.50 range.
- Platinum moved back towards the $900 level.
Gold tests new lows as traders remain worried about potential rate hikes from the Fed.
In case gold settles below the support at $1845 – $1855, it will head towards the next support level at $1805 – $1815.
Silver continues its attempts to settle below the strong support in the $22.25 – $22.50 range amid a broad pullback in precious metals markets.
If silver declines below the $22.25 level, it will head towards the support in the $21.20 – $21.50 range.
Platinum pulled back towards the $900 level as traders focused on the general weakness of the precious metals sector.
It should be noted that platinum has recently received strong support in the $880 – $890 range, so it remains to be seen whether it could gain additional downside momentum ahead of the weekend.
For a look at all of today’s economic events, check out our economic calendar.