Gold, Silver, Platinum Forecasts – Gold Pulls Back From Session Highs
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Gold
Gold remains stuck near the $2025 level as traders react to PMI reports from developed countries. U.S. dollar is flat in a volatile trading session, and gold traders will have to wait for additional catalysts.
From the technical point of view, gold needs to settle above $2025 to have a chance to gain additional upside momentum.
Silver
Silver retreats as gold/silver ratio remains above the 88.50 level. Silver market remains volatile, and it looks that there are no serious buyers or sellers in a market dominated by traders.
A move below the $22.75 level will open the way to the test of the support at $22.25 – $22.50.
Platinum
Platinum rebounds after yesterday’s sell-off. From a big picture point of view, platinum market stays range-bound.
If platinum settles back above the 900 level, it will move towards the resistance at $925 – $935.
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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