Gold, Silver, Platinum Forecasts – Gold Tests The $1850 Level

Key Insights

• 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

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

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

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.