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Gold, Silver, Platinum Forecasts – Gold Dives 2.2% As Demand For Safe-Haven Assets Declines
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Key Points:
- Gold is heading towards the $3200 level.
- Silver made an attempt to settle below the $32.00 level.
- Platinum was mostly flat amid hopes for tariff deals.
Gold
Gold tests new lows as the appetite for risk is growing and demand for safe-haven assets declines.
In case gold manages to settle below the support level at $3235 – $3245, it will head towards the next support at $3150 – $3160.
Silver
Silver pulled back as traders focused on the sell-off in gold markets. Strong U.S. dollar and rising Treasury yields put additional pressure on silver.
A successful test of the support at $31.45 – $31.75 will push silver towards the next support level at $30.60 – $30.80.
Platinum
Platinum is mostly flat as traders bet on successful tariff negotiations between the U.S. and other countries.
In case platinum settles back above the $965 level, it will move towards the resistance level, which is located in the $1010 – $1015 range.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
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