Gold Prices Plummet After Reaching Record Highs

Gold, silver, and platinum experienced a sell-off after testing record highs. Gold pulled back below $2030, silver declined by over 3% as the gold/silver ratio rebounded, and platinum fell below $925. Traders used the rally as an opportunity to sell at record levels, and if gold settles below $2015 - $2025, it may head towards the next support level at $1975 - $1985. Similarly, if silver settles below $24.50, it could move towards the nearest support at $23.40 - $23.60, and if platinum stays below $925, it may gain further downside momentum towards the support at $880 - $890.