Gold, Silver, Platinum Forecasts – Gold Tests Multi-Month Lows

Key Insights

• Gold tests support at $1875 – $1885 as Treasury yields test new highs. 
• Silver moved towards the $22.50 level. 
• Platinum settled below the psychologically important $900 level. 

Gold

Gold tests multi-month lows as U.S. dollar continues to move higher. Treasury yields tested new highs, which was bearish for gold markets.

If gold settles below the $1875 level, it will head towards the next support, which is located in the $1845 – $1855 range.

Silver

Silver pulled back towards the $22.50 level as traders prepared for a more hawkish Fed.

From the technical point of view, silver is trying to settle below the strong support in the $22.25 – $22.50 range. A move below $22.25 may lead to a sell-off.

Platinum

Platinum declined below the $900 level amid a broad sell-off in precious metals markets.

The support at $880 – $890 is strong, and it remains to be seen whether platinum will be able to settle below $880 in the near term.

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