Gold, Silver, Platinum Forecasts – Gold Retreats On Profit-Taking
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Gold
Gold pulled back after an unsuccessful attempt to settle above the $2400 level. Traders continue to take some profits off the table near record highs.
RSI remains in the overbought territory, highlighting the risks of a material pullback.
Silver
Silver gained some ground as gold/silver ratio pulled back below the 84 level.
From the technical point of view, silver remains range-bound between the support at $27.75 – $28.00 and the resistance at $28.70 – $28.90.
Platinum
Platinum continued to move lower as traders worried about the strength of demand in China.
Platinum managed to settle below the $950 level and is moving towards the nearest support at $925 – $935.
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