Gold, Silver, Platinum Forecasts – Gold Dives 2.2% As Traders Reduce Bets On Dovish Fed

Gold

Gold tests new lows as traders worry that Fed may be forced to raise rates in order to fight inflation, which could be triggered by trade wars.

From the technical point of view, gold declined below the support at $2995 – $3005 and is moving towards the next support level at $2940 – $2950.

Silver

Silver rebounded from session lows as gold/silver ratio moved back below the psychologically important 100 level.

If silver manages to settle above the $30.00 level, it will head towards the resistance at $31.45 – $31.75.

Platinum

Platinum has also managed to rebound from session lows as traders bought the dip.

A move above the $900 level will push platinum towards the next resistance at $930 – $935.

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