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Gold, Silver, Platinum Forecasts – Gold Is Flat As Traders Ignore Rising Treasury Yields
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Key Points:
- Gold settled near the $2650 level as traders remained focused on rising tensions in the Middle East.
- Silver gained ground as gold/silver ratio declined below the 83 level.
- Platinum pulled back below the $1000 level.
Gold
Gold is mostly flat as traders ignore rising Treasury yields and focus on geopolitical developments.
From the technical point of view, gold remains stuck below the key resistance at $2675 – $2685.
Silver
Silver is moving higher as gold/silver ratio pulled back below the 83.00 level. Gold/silver ratio is moving towards multi-week lows, which is bullish for silver.
If silver stays above the $31.75 level, it will head towards the resistance at $34.00 – $34.25.
Platinum
Platinum did not manage to stay above the psychologically important $1000 level and pulled back.
If platinum settles below the support at $975 – $985, it will head towards the next support level at $935 – $940.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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