Gold (XAUUSD), Silver, Platinum Forecasts – Silver Dives 13% On Deleveraging

Gold

Gold retreats as traders focus on the strength of the U.S. dollar. The sell-off in U.S. equity markets did not provide support to gold markets today.

In case gold manages to settle below the support at $4880 – $4900, it will move towards the next support level at $4680 – $4700.

Silver

Silver is under strong pressure as global market pullback forces deleveraging. Gold/silver ratio jumped above the 63 level, putting significant pressure on silver markets.

If silver declines below the $75.00 level, it will move towards the next support level at $71.00 – $72.00.

Platinum

Platinum is losing ground amid broad pullback in precious metals markets. Currently, platinum is trying to settle below the support at $2040 – $2060.

In case this attempt is successful, platinum will head towards the next support at $1880 – $1900.

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