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Gold, Silver, Platinum Forecasts – Gold Remains Under Pressure As Treasury Yields Rise
By:
Key Points:
- Gold attempts to settle below the support at $3235 - $3245.
- Silver declined towards the $32.00 level.
- Platinum pulled back towards the $950 level.
Gold
Gold remains under pressure as Treasury yields rise after the release of the strong Non Farm Payrolls report.
If gold settles below the $3235 level, it will move towards the next support level at $3150 – $3160.
Silver
Silver continues to move lower as gold/silver ratio climbed back above the 100.50 level.
A move below the $32.00 level will open the way to the test of the nearest support at $31.45 – $31.75.
Platinum
Platinum has recently made another attempt to settle above the resistance at $960 – $965 but lost momentum and pulled back.
If platinum declines below the $950 level, it will head towards the support level at $930 – $935.
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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