Gold, Silver, Platinum Forecasts – Gold Pulls Back Below $2350 -


Gold 230524 Daily Chart

Gold remains under strong pressure as traders continue to take profits near historic highs. Rising Treasury yields served as an additional bearish catalyst for gold markets.

In case gold manages to settle below the $2340 level, it will head towards the support at $2295 – $2305.


Silver 230524 Daily Chart

Silver  is losing ground amid profit-taking. Gold/silver ratio climbed towards the 77.50 level, which was bearish for silver.

A move below the $30.00 level will open the way to the test of the support at $28.75 – $30.00.


Platinum 230524 Daily Chart

Platinum continues to move lower amid a strong pullback in precious metals markets.

A successful test of the support at $1010 – $1020 will push platinum towards the next support level at $975 – $985.

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

This article was originally posted on FX Empire


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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