Key Insights
- Gold tests resistance at $1985 as Treasury yields move lower.
- Silver tries to settle above the recent trading range.
- Platinum’s rebound continues as palladium markets show strength.
Gold
Gold gains ground as Treasury yields pull back. U.S. dollar is also under some pressure in today’s trading session, which is bullish for gold markets.
If gold settles above the resistance at $1975 – $1985, it will head towards the next resistance level, which is located in the $2015 – $2025 range.
Silver
Silver is trying to settle above the recent trading range amid a broad rally in precious metals markets.
In case this attempt is successful, silver will head towards the next resistance at $25.00 – $25.30.
Platinum
Platinum tested new highs as the rebound continued. Palladium has recently settled back above the $1000 level, providing additional support to platinum markets.
If platinum settles above $900, it will move towards the next resistance at $925 – $935.
For a look at all of today’s economic events, check out our economic calendar.