Gold moved lower after an unsuccessful attempt to settle above the $2650 level. U.S. dollar’s pullback did not provide any support to gold markets today.
If gold settles below the $2620 level, it will head towards the nearest support level at $2580 – $2590.
Silver
Silver 051224 Daily Chart
Silver made an attempt to climb above the resistance at $31.45 – $31.75 but failed to develop sufficient upside momentum and pulled back.
If silver settles below the $31.00 level, it will head towards the recent lows near the $30.00 level.
Platinum
Platinum 051224 Daily Chart
Platinum is losing ground amid broad pullback in precious metals markets.
If platinum declines below the support at $935 – $945, it will head towards the next support level, which is located in the $895 – $905 range.
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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.