SLV

Gold, Silver, Platinum Forecasts – Gold Falls More Than 1% On Profit-Taking

FXEmpire.com -

Gold

Gold 130524 Daily Chart

Gold pulls back as traders take profits after the recent rebound. Falling Treasury yields did not provide support to gold markets.

If gold settles below the $2330 level, it will head towards the nearest support, which is located in the $2295 – $2305 range.

Silver

Silver 130524 Daily Chart

Silver gained ground as gold/silver ratio pulled back below the 83 level.

If silver manages to stay above the $28.00 level, it will get to the test of the nearest resistance at $28.75 – $29.00.

Platinum

Platinum 130524 Daily Chart

Platinum tests new highs as the rally continues. Traders bet that China’s economy will gain steam and demand for platinum will increase.

The nearest resistance level for platinum is located in the $1010 – $1020 range. A move above $1020 will open the way to the test of the next resistance at $1070 – $1080.

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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