Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulls Back As Dollar Tests Multi-Week Highs

Gold

Gold is losing ground as traders focus on U.S. dollar’s rally, which was triggered by U.S. inflation reports.

If gold settles below the 50 MA at $3324, it will move towards the support level at $3235 – $3245.

Silver

Silver  is moving lower as gold/silver ratio climbed back above the 88.00 level. The nearest support level for silver is located in the $37.30 – $37.50 range.

A move below the $37.30 level will open the way to the test of the next support at $35.65 – $35.85.

Platinum

Platinum continues its attempts to settle below the support level at $1400 – $1405.

If platinum settles below the $1400 level, it will head towards the next support level at $1335 – $1340.

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