Key Insights
- Gold settled near the $2025 level, supported by demand for safe-haven assets.
- Silver pulled back towards $22.50 as gold/silver ratio tested new highs.
- Platinum moved lower amid demand worrries.
Gold
Gold gains some ground despite rising Treasury yields as some traders want to increase their exposure to safe-haven assets.
In case gold stays above the $2025 level, it will move towards the nearest resistance at $2065 – $2075.
Silver
Silver is losing ground as gold/silver ratio tests new highs. In case gold/silver ratio settles above the psychologically important 90 level, it may gain additional upside momentum, which would be bearish for silver.
A move below the support at $22.25 – $22.50 will push silver towards the next support level, which is located in the $21.50 – $21.70 range.
Platinum
Platinum retreats as traders focus on rising Treasury yields. Demand worries continue to serve as a significant bearish catalyst for platinum markets.
A successful test of the support at $880 – $890 will push platinum towards the next support level at $840 – $850.
For a look at all of today’s economic events, check out our economic calendar.