Gold, Silver, Platinum Forecasts – Gold Retreats As Demand For Safe-Haven Assets Declines

NEW YORK (January 24) Gold is losing ground as demand for safe-haven assets declines after the release of strong U.S. PMI reports.

A successful test of the support at $2015 – $2025 will push gold towards the next support level, which is located in the $1970 – $1980 range.

Silver made an attempt to settle back above the $23.00 level as gold/silver ratio pulled back below 89.

If silver climbs above $23.00, it will head towards the nearest resistance at $23.40 – $23.60.

Platinum gained some ground as China’s central bank cut reserve requirement ratio for banks, which would boost the country’s economy and increase demand for platinum.

If platinum stays above the $900 level, it will move towards the resistance at $925 – $935.

FXEmpire