Gold, Silver, Platinum Forecasts – Gold Tests The $2600 Level

Gold

Gold is losing ground as U.S. dollar is moving higher against a broad basket of currencies at the start of the week.

The nearest support level for gold is located in the $2580 – $2590 range. A move below the $2580 level will push gold towards the next support at $2530 – $2540.

Silver

Silver tests support at $28.75 – $29.00 as gold/silver ratio made an attempt to settle above the psychologically important 90.00 level.

A successful test of this support level will open the way to the test of the next support, which is located in the $27.50 – $27.70 range.

Platinum

Platinum tests multi-month lows amid broad sell-off in precious metals markets.

If platinum declines below the $895 level, it will gain additional downside momentum and move towards the next significant support level, which is located in the $840 – $850 range.

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