Gold, Silver, Platinum – Gold Remains Under Pressure

Key Insights

• Gold tries to settle below the support at $1910 – $1915.
• Silver gains more ground as gold/silver ratio settles below the 84 level. 
• Platinum attempts to rebound from recent lows. 

Gold

Gold continues its attempts to settle below the support in the $1910 – $1915 range despite U.S. dollar’s pullback.

A move below the $1910 level will open the way to the test of the next support in the $1875 – $1885 range. This move could be fast, which was shown in a similar situation back in February.

Silver

Silver made an attempt to climb above the $23 level as gold/silver ratio declined below the 84 level.

Gold/silver ratio has recently moved from 81 to 86. Currently, it is trying to get back to the 80 – 82 range. In case this attempt is successful, silver will get more support.

Platinum

Platinum continues its attempts to rebound from recent lows but it looks that bulls need more catalysts to push platinum above the $935 level.

The previous trend remains intact, and a move below the recent lows at $917 will push platinum towards the support in the $900 – $905 range.

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