Gold (XAUUSD), Silver, Platinum Forecasts – Gold Remains Under Pressure As Demand For Precious Metals Declines

Gold

Gold is losing ground as Treasury yields continue to rebound after the recent pullback.

A successful test of the support at $3350 – $3360 will push gold towards the next support level at $3275 – $3285.

Silver

Silver moved lower as traders continued to take profits off the table near multi-year highs.

RSI has recently declined into the moderate territory, so there is enough room to gain upside momentum in case the right catalysts emerge.

Platinum

Platinum made an attempt to settle below the $1410 level as pullback continued.

The nearest significant support level for platinum is located in the $1400 – $1405 range. A move below the $1400 level will push platinum towards the support at $1345 – $1350.

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