Key Insights
- Gold settled near the $1925 level despite rising Treasury yields.
- Silver moved towards $23.00 as the rebound continued.
- Platinum tested the $900 level.
Gold
Gold gained some ground despite rising Treasury yields. Demand for safe-haven assets stays strong due to geopolitical uncertainty, which is bullish for gold.
If gold settles above the resistance at $1935 – $1945, it will move towards the next resistance level at $1975 – $1985.
Silver
Silver tested new highs as the strong rebound from October lows continued. Gold/silver ratio pulled back towards the 84 level, which was bullish for silver.
If silver settles above the 50 MA at $22.90, it will move towards the next resistance at $23.40 – $23.60.
Platinum
Platinum made an attempt to settle above the $900 level amid rising demand for precious metals.
In case platinum climbs above $900, it will move towards the resistance at $925 – $935.
For a look at all of today’s economic events, check out our economic calendar.