Gold, Silver, Platinum Forecasts – Gold Dives 3.6% As Traders Focus On The Potential Israel – Hezbollah Ceasefire Deal

Gold

Gold is under strong pressure amid reports indicating that Biden and Macron will announce Israel – Hezbollah ceasefire deal within 36 hours.

A move below the $2600 level will lead to a test of the nearest support level at $2580 – $2590.

Silver

Silver retreats as traders focus on the strong sell-off in gold markets. Gold/silver ratio settled near the 87.00 level and did not have a material impact on silver market dynamics.

If silver settles below the $30.00 level, it will head towards the next support level at $28.75 – $29.00.

Platinum

Platinum tests support at $935 – $945 amid broad sell-off in precious metals markets.

In case this test is successful, platinum will head towards the next support level, which is located in the $895 – $905 range.

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