Gold, Silver, Platinum Forecasts – Gold Remains Under Pressure As Treasury Yields Rise After CPI Data

NEW YORK (December 12) Gold remains under pressure after the release of U.S. inflation reports which met analyst estimates.

Currently, gold is trying to settle below the support at $1975 – $1985. In case this attempt is successful, it will move towards the next support at $1935 – $1945.

Silver

Silver 121223 Daily Chart

Silver is losing ground as gold/silver ratio is trying to settle above the 87.00 level. Rising gold/silver ratio served as the key bearish catalyst for silver in December.

From the technical point of view, a move below the $22.75 level will open the way to the test of the support at $22.25 – $22.50.

Platinum

Platinum 121223 Daily Chart

Platinum  gains ground as the rebound continues. However, platinum needs to settle above the strong resistance at $925 – $935 to have a chance to gain sustainable momentum.

A move above $935 will push platinum towards the next significant resistance level, which is located in the $990 – $1000 range.

FXEmpire