Gold, Silver, Platinum Forecasts – Gold Retreats Ahead Of The Weekend

Key Insights

• Gold is losing ground as traders focus on rising Treasury yields. 
• Silver continues its attempts to settle below the support at $22.25 – $22.50.
• Platinum tests new lows as the pullback continues. 

Gold

Gold is losing ground as Treasury yields keep moving higher. Traders bet on a more hawkish Fed, which is bearish for gold markets.

If gold settles below the support at $2015 – $2025, it will move towards the next support level at $1965 – $1975.

Silver

Silver is under pressure amid a broad pullback in precious metals markets.

A successful test of the support at $22.25 – $22.50 will open the way to the test of the next support level at $21.50 – $21.65.

Platinum

Platinum tests new lows amid worries about weak demand. Palladium markets are down by 2.3% today. Traders should note that prices of platinum and palladium are almost equal after the strong sell-off in palladium markets.

If platinum stays below the $880 level, it will head towards the support at $840 – $850.

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