Gold, Silver, Platinum Forecasts – Gold Retreats As Dollar Rebounds

Gold

Gold pulls back despite falling Treasury yields. From a big picture point of view, gold continues consolidation after the recent pullback.

The nearest support level for gold is located in the $2295 – $2305 range. A move below $2295 will push gold towards the support at $2190 – $2200.

Silver

Silver is losing ground as traders focus on the pullback in the gold markets. Gold/silver ratio settled below the 85 level, which is bullish for silver.

If silver moves above the resistance at $27.75 – $28.00, it will head towards the next resistance at $28.75 – $29.00.

Platinum

Platinum tests new highs as traders bet on rising demand from China.

A successful test of the resistance at $975 – $985 will push platinum towards the next resistance level at $1010 – $1020.

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