Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulls Back As Traders Take Profits Near Monthly Highs

Gold

Gold is losing ground as traders take profits after the strong rebound from October lows.

In case gold settles back below the $4170 level, it will head towards the 50 MA at $4048.

Silver

Silver has recently made another attempt to settle above the resistance at $58.60 – $58.80 but lost momentum and pulled back.

RSI remains in the overbought territory, so the risks of a pullback are increasing. A move below the $56.50 level will push silver towards the support at $52.60 – $52.80.

Platinum

Platinum attempts to settle below the support at $1620 – $1630 amid broad pullback in precious metals markets.

In case this attempt is successful, platinum will gain additional downside momentum and head towards the 50 MA at $1584.

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