Gold, Silver, Platinum Forecasts – Gold Pulls Back As Dollar Rallies

Gold

Gold retreats as traders focus on U.S. dollar’s rebound. The resistance at $2520 – $2530 has been tested several times and proved its strength, and gold will need significant catalysts to climb above the $2530 level.

A move below the $2500 level will open the way to the test of the nearest support at $2445 – $2450.

Silver

Silver is under strong pressure as gold/silver ratio climbed above the 85.50 level.

The nearest support level for silver is located in the $28.75 – $29.00 range. A move below the $28.75 level will push silver towards the next support at $27.20 – $27.50.

Platinum

Platinum tests support at $935 – $940 amid broad pullback in precious metals markets.

If this test is successful, platinum will move towards the next support level at $890 – $900.

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