Key Insights
- Gold is trying to settle back below the $2025 level.
- Silver tests new lows as gold/silver ratio climbed above the 91 level.
- Platinum moved back below the psychologically important $900 level.
Gold
Gold is losing ground as demand for safe-haven assets declines. Traders focus on the strong rally in U.S. equity markets and are less interested in buying gold.
If gold declines below the support at $2015 – $2025, it will move towards the next support level at $2065 – $2075.
Silver
Silver is trying to settle below the $22.25 level as gold/silver ratio moved above the 91.00 level. Rising gold/silver ratio remains the key negative catalyst for silver.
In case silver settles below $22.25, it will move towards the next support level, which is located in the $21.50 – $21.70 range.
Platinum
Platinum is moving lower amid a broad pullback in precious metals markets.
In case platinum settles below the nearest support at $880 – $890, it will head towards the next support at $840 – $850.
For a look at all of today’s economic events, check out our economic calendar.