SLV

Gold, Silver, Platinum Forecasts – Gold Dives 2.5% On Profit-Taking

FXEmpire.com -

Gold

Gold 220424 Daily Chart

Gold is under strong pressure as traders take profits amid easing tensions in the Middle East. It looks that Iran and Israel have no intention to continue strikes against each other, which is bearish for gold markets.

The nearest support level for gold is located in the $2295 – $2305 range. A move below $2295 will push gold towards the $2200 level.

Silver

Silver 220424 Daily Chart

Silver suffered a strong sell-off as gold/silver ratio rallied above the 85.50 level.

In case silver declines below the $27.00 level, it will head towards the support in the $26.00 – $26.30 range.

Platinum

Platinum 220424 Daily Chart

Platinum tested new lows amid a broad pullback in precious metals markets.

If platinum settles below the 50 MA at $917, it will head towards the next support level at $870 – $880.

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

This article was originally posted on FX Empire

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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