Advertisement
Advertisement
Gold (XAUUSD), Silver, Platinum Forecasts – Silver Dives 4% Amid Profit-Taking
By:
Key Points:
- Gold made an attempt to settle below the support at $4540 - $4550.
- Silver suffered a sell-off as traders continued to take profits near historic highs.
- Platinum continued its attempts to settle below the support at $2245 - $2265.
Gold
Gold pulls back as traders focus on rising Treasury yields and continue to take profits near historic highs.
A successful test of the support at $4540 – $4550 will push gold towards the next support level at $4370 – $4380.
Silver
Silver found itself under strong pressure after an unsuccessful attempt to settle above the resistance at $91.50 – $92.00.
In case silver settles below the $87.00 level, it will move towards the nearest support, which is located in the $83.50 – $84.00 range.
Platinum
Platinum declined by almost 5% amid broad pullback in precious metals markets.
A move below the $2245 level will open the way to the test of the next support level at $2050 – $2070.
If you’d like to know more about how to trade gold and silver, please visit our educational area.
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.
Advertisement