Gold, Silver, Platinum Forecasts – Gold Remains Stuck Near $2025

Key Insights

• Gold continues to stabilize after the recent test of all-time highs. 
• Silver retreats as gold/silver ratio moves above 85.
• Platinum rebounds as traders focus on the encouraging economic data from China. 

Gold

Gold remains stuck near the $2025 level despite U.S. dollar’s pullback. From a big picture point of view, gold markets are trying to stabilize after the recent test of all-time high levels.

The nearest support level for gold is located in the $2015 – $2025 range. A move below $2015 will push gold towards the next support at $1975 – $1985.

Silver

Silver remains under strong pressure as gold/silver ratio moved above the 85.00 level.

A move below the support at $23.40 – $23.60 will push silver towards the next support at $22.25 – $22.50.

Platinum

Platinum rebounds after the recent pullback as traders react to the economic data from China. China’s exports increased by 0.5% year-over-year in November, compared to analyst consensus of -1.1%.

If platinum stays above the $900 level, it will head towards the resistance at $925 – $935.

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