Gold (XAUUSD), Silver, Platinum Forecasts – Gold Moves Lower As Traders Focus On Strong Dollar

Gold

Gold pulls back as U.S. dollar gains ground after strong PMI reports. Traders reduce bets on dovish Fed, which is bearish for gold.

The technical picture remains unchanged as gold failed to settle above the resistance at $3350 – $3360.

Silver

Silver attempts to settle above the $38.00 level as gold/silver ratio pulled back towards 87.50.

If silver stays above $38.00, it will move towards the $38.75 level. A move above this level will open the way to the test of the resistance at $39.80 – $40.00.

Platinum

Platinum is trying to settle above the strong resistance level, which is located in the $1345 – $1350 range.

In case this attempt is successful, platinum will head towards the next resistance at $1400 – $1405.

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