Gold, Silver, Platinum Forecasts – Gold Faced Strong Resistance Near $2400

Gold

Gold pulls back as U.S. dollar gains ground against a broad basket of currencies. From a big picture point of view, traders are cautious ahead of the Fed decision, although the central bank is expected to deliver dovish comments.

In case gold settles below the 50 MA at $2359, it will head towards the support at $2295 – $2305.

Silver

Silver retreats as gold/silver ratio tests new highs above the 86 level. The strong rally in gold/silver ratio served as the key bearish catalyst for silver markets in recent trading sessions.

A move below the support at $27.20 – $27.50 will push silver towards the next support level at $25.75 – $26.00.

Platinum

Platinum continues to rebound after the recent pullback. Palladium markets are also moving higher, which is bullish for platinum.

If platinum climbs above the $950 level, it will head towards the resistance at $975 – $985.

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