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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Remains Under Pressure As Dollar Tests New Highs
By:
Key Points:
- Gold declined below the $3300 level.
- Silver is trying to settle below the support at $33.00 - $33.20.
- Platinum failed to climb above the $1090 level and pulled back.
Gold
Gold remains under pressure as traders focus on the continuation of U.S. dollar’s rebound.
If gold stays below the $3000 level, it will head towards the nearest support level at $3235 – $3245.
Silver
Silver continues its attempts to settle below the support at $33.00 – $33.20 as demand for precious metals declines.
If silver pulls back below the 50 MA at $32.73, it will move towards the support level at $31.45 – $31.75.
Platinum
Platinum made an attempt to settle above the $1090 level but lost momentum and pulled back below $1070.
The nearest support level for platinum is located in the $1050 – $1055 range. A move below the $1050 level will push platinum towards the support level at $1010 – $1015.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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