Gold, Silver, Platinum Forecasts – Gold Pulls Back As Demand For Safe-Haven Assets Declines

Key Insights

• Gold is trying to settle back below the $2025 level. 
• Silver tests new lows as gold/silver ratio climbed above the 91 level. 
• Platinum moved back below the psychologically important $900 level. 

Gold

Gold is losing ground as demand for safe-haven assets declines. Traders focus on the strong rally in U.S. equity markets and are less interested in buying gold.

If gold declines below the support at $2015 – $2025, it will move towards the next support level at $2065 – $2075.

Silver

Silver is trying to settle below the $22.25 level as gold/silver ratio moved above the 91.00 level. Rising gold/silver ratio remains the key negative catalyst for silver.

In case silver settles below $22.25, it will move towards the next support level, which is located in the $21.50 – $21.70 range.

Platinum

Platinum  is moving lower amid a broad pullback in precious metals markets.

In case platinum settles below the nearest support at $880 – $890, it will head towards the next support at $840 – $850.

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