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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats As Dollar Tests Weekly Highs
By:
Key Points:
- Gold tests new lows as dollar rallies.
- Silver made an attempt to settle below the $38.00 level.
- Platinum tested support at $1400 - $1405.
Gold
Gold remains under pressure as traders focus on the strong rally of the American currency.
A move below the $3300 level will push gold towards the support at $3275 – $3285.
Silver
Silver is losing some ground as traders focus on strong dollar. Gold/silver ratio pulled back below the 87.00 level, providing support to silver.
A successful test of the support at $37.30 – $37.50 will push silver towards the next support at $35.65 – $35.85.
Platinum
Platinum is moving lower amid broad pullback in precious metals markets.
In case platinum settles below the $1400 level, it will gain additional downside momentum and move towards the support at $1345 – $1350.
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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