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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests New Lows As Sell-Off Continues
By:
Key Points:
- Gold made an attempt to settle below the $4000 level.
- Silver moved below the $49.00 level as pullback continued.
- Platinum climbed back above the support at $1520 - $1530.
Gold
Gold remains under strong pressure as traders continue to take profits after the strong rally.
A successful test of the support at $3990 – $4000 will open the way to the test of the next support level at $3800 – $3810.
Silver
Silver puleld back as traders reacted to the continuation of the sell-off in gold markets.
In case silver declines below the support at $47.00 – $47.20, it will head towards the next support level, which is located in the $43.60 – $43.80 range.
Platinum
Platinum managed to rebound from session lows and is trying to settle back above the $1530 level.
In case this attempt is successful, platinum will head towards the next resistance level at $1620 – $1625.
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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