Gold, Silver, Platinum Forecasts – Gold Tests Weekly Lows

Key Insights

• Gold is trying to settle below the support at $2015 – $2025.
• Silver failed to settle above the $23.00 level and pulled back towards $22.50.
• Platinum climbed back above the $890 level. 

Gold

Gold continues its attempts to settle below the strong support in the $2015 – $2025 range.

In case gold settles below the $2015 level, it will head towards the next support at $1965 – $1975.

Silver

Silver pulled back after an unsuccessful attempt to settle above the $23.00 level as gold/silver ratio climbed above 89.

Silver received strong support in the $22.25 – $22.50 range, but it remains to be seen whether it will be able to gain sustainable upside momentum in the near term.

Platinum

Platinum rebounds after the recent sell-off. Palladium markets have also managed to gain strong momentum.

A move above the $900 level will push platinum towards the nearest resistance at $925 – $935.

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