Gold, Silver, Platinum Forecasts – Silver Dives 4% As Dollar Tests New Highs

Key Insights

• Gold pulled back towards the $1830 level as Treasury yields moved to new highs. 
• Silver suffered a strong sell-off as gold/silver ratio climbed above the 86 level. 
• Platinum tested support at $880 amid a broad pullback in precious metals markets.

Gold

Gold tested new lows as traders remained focused on rising Treasury yields and strong dollar.

In case gold stays below the $1845 level, it will head towards the next support, which is located in the $1805 – $1815 range.

Silver

Silver gained strong downside momentum as gold/silver ratio rallied above the 86 level.

A move below the support at $21.20 – $21.50 will push silver towards the next support level at $19.90 – $20.20.

Platinum

Platinum tests support at $880 – $890 amid a broad sell-off in precious metals markets.

A successful test of this level will open the way to the test of the next support at $835 – $845.

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