Gold is losing ground as traders react to U.S. inflation reports, which indicated that Inflation Rate increased from 3.1% in November to 3.4% in December.
A move below the support at $2015 – $2025 will open the way to the test of the next support level at $1970 – $1980.
Silver tests new lows as gold/silver ratio moved above the 89 level. Stronger dollar puts additional pressure on silver markets.
Currently, silver is trying to settle below the support at $22.25 – $22.50. If this attempt is successful, silver will head towards the next support level at $21.50 – $21.70.
Platinum
Platinum remained under strong pressure as traders reacted to U.S. inflation data.
From the technical point of view, platinum moved below the support at $925 – $935 and is heading towards the next support level at $880 – $890.
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