Gold, Silver, Platinum Forecasts – Gold Tests $2300 As Dollar Rebounds

Gold

Gold is under pressure as traders focus on Fed’s federal funds rate projections. The central bank expects a single rate cut in 2024, which is bearish for gold markets.

A successful test of the support at $2295 – $2305 will push gold towards the next support level at $2190 – $2200.

Silver

Silver tests support at $28.75 – $29.00 as gold/silver ratio climbed back above the 79 level.

A move below $28.75 will open the way to the test of the support level at $27.20 – $27.50.

Platinum

Platinum tests new lows amid broad sell-off in precious metals markets. Falling Treasury yields do not provide any support to platinum and other precious metals in today’s trading session.

From the technical point of view, platinum is moving towards the nearest support at $925 – $935.

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