Gold, Silver, Platinum Forecasts – Gold Pulled Back As Dollar Tested Multi-Week Highs

Gold

Gold pulled back from session highs as U.S. dollar gained ground against a broad basket of currencies.

If gold settles back below the $2650 level, it will head towards the $2625 level. From the technical point of view, gold remains stuck below the key resistance at $2675 – $2685.

Silver

Silver pulled back as gold/silver ratio climbed above the 85.00 level. Strong dollar and rising Treasury yields put pressure on silver markets.

If silver settles below the $31.00 level, it will head towards the recent lows at $30.12.

Platinum

Platinum gained ground as traders bet that China’s stimulus measures may boost demand for the metal.

A move above the $1000 level will open the way to the test of the next resistance at $1020 – $1030.

For a look at all of today’s economic events, check out our economic calendar.