Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats As Traders Focus On Strong Dollar

Gold

Gold is losing ground as U.S. dollar tests multi-month highs. Traders reduce bets on dovish Fed, which is bearish for gold markets.

A move below the $3950 level will push gold towards the support level at $3890 – $3900.

Silver

Silver made an attempt to settle below the support at $47.00 – $47.20 as traders focused on strong dollar.

A successful test of the support at $47.00 – $47.20 will open the way to the test of the 50 MA at $45.80.

Platinum

Platinum moved lower amid broad pullback in precious metals markets. Currently, platinum is trying to settle below the support at $1520 – $1530.

In case this attempt is successful, platinum will head towards the next support at $1400 – $1410.

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