Gold, Silver, Platinum Forecasts – XAU/USD Tests Key Support Amid Dollar Strength

Key Insights

• Gold’s trajectory slips below $1900, reflecting U.S. dollar’s strength against peers.
• Silver experiences similar pressures, mirroring broader precious metals market sentiment.
• Platinum’s $890 mark becomes a key focal area amidst China’s ongoing economic challenges.

Gold

Gold moved below the $1900 level as U.S. dollar gained ground against a broad basket of currencies.

If gold manages to settle below $1900, it will move towards the next support in the $1860 – $1870 range.

Silver

Silver has also found itself under pressure as the pullback in the precious metals markets continued.

From the technical point of view, silver settled near the support in the $22.15 – $22.35 range. A move below $22.35 will push silver towards the next support at $21.50 – $21.70.

Platinum

Platinum tests the key support at $890 as traders stay focused on the economic problems in China.

This support level has already been tested several times and proved its strength. Platinum will have a good chance to gain strong downside momentum in case it manages to settle below $890.

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