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***Top stories from the last 15 days
- Written by Sumit Roy |
- May 15, 2012
Precious Metals Monitor: Market Turmoil Could Push Gold To $1300, Silver Below $20 As Euro Fears Reignite
- Details
We offer our latest analysis on the precious metals market, which has seen all of its 2012 gains erased.
What began as a stellar year for precious metals has turned into a potential nightmare for bulls, with recent selling pressure pushing the sector to the brink. All of this year's gains have been wiped out for gold, silver, platinum and palladium.
Yet while the year's gains are lost, the real test for the complex has just begun. Gold is now on the doorstep of the key double-bottom support near $1533. A decisive break below that level would expose much lower values as far down as $1300.
GOLD

Similarly, silver must hold $26 or prices could fall swiftly toward $20 or below.
SILVER

PLATINUM

PALLADIUM
