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Gold (XAUUSD), Silver, Platinum Forecasts – Silver Dives 3.9% Amid Profit-Taking
By:
Key Points:
- Gold failed to settle above $4350 and pulled back.
- Silver suffered a sell-off as traders took profits after the strong rally.
- Platinum tested resistance at $1740 - $1750.
Gold
Gold tested new highs but lost momentum and pulled back as traders focused on the sell-off in silver markets.
In case gold pulls back below the $4250 level, it will head towards the nearest support, which is located in the $4170 – $4180 range.
Silver
Silver is under strong pressure as traders rush to take profits off the table near historic highs.
A move below the $61.00 level will open the way to the test of the support at $58.60 – $58.80.
Platinum
Platinum made an attempt to settle above the resistance level at $1740 – $1750 but lost momentum as traders reacted to silver price dynamics.
In case platinum settles below the $1740 level, it will head towards the $1700 level.
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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