Gold, Silver, Platinum Forecasts – Gold Is Mostly Flat As Traders React To U.S. Economic Data
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Key Insights
- Gold continues its attempts to settle below the support at $2015 – $2025.
- Silver failed to settle above the $23.00 level.
- Platinum tests support at $880 – $890.
Gold
Gold is mostly flat despite stronger dollar as traders focus on falling Treasury yields.
If gold settles below the $2015 level, it will move towards the support at $1970 – $1980.
Silver
Silver has recently made an attempt to settle above the $23.00 level but lost momentum and pulled back.
The nearest support level for silver is located in the $22.25 – $22.50 range. A move below $22.25 will push silver towards the support at $21.50 – $21.70.
Platinum
Platinum settled below the $900 level as traders focused on the strong sell-off in palladium markets.
A successful test of the support at $880 – $890 will push platinum towards the next support at $840 – $850.
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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