Gold is moving lower ahead of Fed decision. U.S. Dollar Index is trying to settle above the resistance at 107.10 – 107.30, which is bearish for gold markets.
A move below the $2620 level will push gold towards the nearest support level at $2580 – $2590.
Silver
Silver 181224 Daily Chart
Silver pulls back as gold/silver ratio climbed above the 87.00 level. From a big picture point of view, rising gold/silver ratio continues to put pressure on silver markets.
If silver moves below the $30.00 level, it will head towards the nearest support at $28.75 – $29.00.
Platinum
Platinum 181224 Daily Chart
Platinum has recently made antother attempt to settle above the resistance at $935 – $945 but lost momentum and pulled back below the $930 level.
A move below the recent lows at $915 will push platinum towards the support level at $895 – $905.
For a look at all of today’s economic events, check out our economic calendar.
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.