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Gold, Silver, Platinum Forecasts – Gold Pulled Back Below The $3200 Level
By:
Key Points:
- Gold is losing ground ahead of the weekend.
- Silver made an attempt to settle below the $32.00 level.
- Platinum remained stuck near the $980 level.
Gold
Gold is losing ground as demand for safe-haven assets continues to decline. Traders bet that the worst-case scenario in trade wars has been avoided.
In case gold settles below the support at $3140 – $3150, it will move towards the next support level at $3050 – $3060.
Silver
Silver pulled back below the $32.50 level as traders reacted to the sell-off in gold markets.
A successful test of the support at $31.45 – $31.75 will push silver towards the next support level at $30.00 – $30.20.
Platinum
Platinum is losing some ground amid broad pullback in precious metals markets.
RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.
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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