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Gold, Silver, Platinum Forecasts – Gold Tests Multi-Week Highs As US Dollar Pulls Back
Gold: chart Gold tested new highs as U.S. PCE Price Index declined from 2.9% in October to 2.6% in November. Inflation is slowing down, so Fed may start cutting rates soon. In case gold manages to settle above the resistance at $2065 – $2075, it will head towards the $2100 level. Silver: chart Silver pulled back as gold/silver ratio rebounded towards the 84.50 level. Today’s pullback is likely driven by profit-taking as gold/silver ratio has quickly moved from 88 to the recent lows near 83.50, and some traders decided to take money off the table. Platinum: chart Platinum tests new highs as demand for ... (full story)