Gold, Silver, Platinum Forecasts – Gold Remains Stuck Near $1940 As Traders Wait For Catalysts

Key Insights

• Gold continues to trade near the $1940 level. 
• Silver pulls back as traders remain focused on profit-taking. 
• Platinum declined below the $960 level. 

Gold

Gold remains stuck near the $1940 level as traders wait for additional catalysts. U.S. dollar’s pullback did not provide sufficient support to gold markets today.

In case gold settles below the $1935 level, it will move towards the nearest support, which is located in the $1900 – $1910 range.

Silver

Silver is trying to settle below the support at $24.25 as the pullback continues. Traders take profits after the recent rebound, and silver needs additional positive catalysts to get back to the upside mode.

If silver stays below the $24.25 level, it will move towards the 200 MA at $23.45.

Platinum

Platinum is also moving lower in today’s trading session. As in silver’s case, profit-taking is the main driver for the move.

From the technical point of view, platinum is heading towards the nearest support level at $925 – $935.

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