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Gold, Silver, Platinum Forecasts – Gold Stays Above $2150 As Traders Prepare For Fed Decision

FXEmpire.com -

Gold

Gold 190324 Daily Chart

Gold remains stuck near the $2150 level as traders are not ready for big moves ahead of Fed decision, which will be released tomorrow.

The support at $2140 – $2150 has been tested several times and proved its strength. If gold stays above the $2150 level, it will head towards the resistance at $2190 – $2200.

Silver

Silver 190324 Daily Chart

Silver pulled back below the $25.00 level as gold/silver ratio climbed above 86.50.

If silver stays below $25.00, it will head towards the nearest support, which is located in the $24.40 – $24.60 range.

Platinum

Platinum 190324 Daily Chart

Platinum remains under strong pressure as traders focus on the continuation of the sell-off in palladium markets, which are down by 4.15%.

RSI remains in the moderate territory despite the significant pullback, so there is plenty of room to gain additional downside momentum.

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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