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Gold, Silver, Platinum Forecasts – Gold Pulled Back Below The $3300 Level
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Key Points:
- Gold is losing ground amid profit-taking.
- Silver pulled back towards the $33.00 level.
- Platinum failed to settle above the resistance at $960 - $965.
Gold
Gold pulled back as traders continued to take profits off the table after the strong rally.
From the technical point of view, gold needs to settle back above the resistance at $3350 – $3360 to have a chance to gain upside momentum in the near term.
Silver
Silver is moving lower as traders focus on the sell-off in gold markets and wait for additional positive catalysts.
A move below the 50 MA at $32.63 will push silver towards the support level at $31.45 – $31.75.
Platinum
Platinum is losing some ground amid broad pullback in precious metals markets.
The technical picture remains unchanged as platinum needs to settle above the $965 level to gain upside momentum.
For a look at all of today’s economic events, check out our economic calendar.
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.
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