Gold
Gold retreats as U.S. dollar tests yearly highs. Rising Treasury yields put additional pressure on precious metals markets in today’s trading session.
If gold settles below the 50 MA at $2646, it will move towards the nearest support, which is located in the $2580 – $2590 range.
Silver
Silver is under strong pressure as gold/silver ratio climbed above the 89.50 level. If gold/silver ratio settles above 90, silver will gain additional downside momentum.
A move below the $29.50 level will push silver towards the support, which is located in the $28.75 – $29.00 range.
Platinum
Platinum is losing ground amid broad pullback in precious metals markets. Palladium is down by amost 3%, which is bearish for platinum.
If platinum settles below the $960 level, it will head towards the support level at $935 – $945.
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