Gold, Silver, Platinum Forecasts – Gold Pulls Back As Treasury Yields Move Higher

Key Insights

• Gold declined towards the $1930 level after an unsuccessful attempt to settle above $1940.
• Silver faced resistance near the 200 MA at $23.50.
• Platinum moved above the $940 level as the rebound continued.

Gold

Gold made an attempt to settle above the resistance at $1935 – $1940 as traders prepared for tomorrow’s Fed decision, which will have a material impact on gold markets.

If gold climbs above $1940, it will head towards the resistance, which is located in the $1975 – $1985 range.

Silver

Silver faced resistance near the 200 MA and pulled back. Treasury yields are moving higher, which is bearish for silver markets.

A move above the 200 MA at $23.50 will push silver towards the resistance in the $24.25 – $24.50 range.

Platinum

Platinum gained additional upside momentum after the successful test of the previous resistance at $925 – $935.

RSI remains in the moderate territory, which is bullish for platinum. The nearest resistance level is located in the $975 – $985 range.

For a look at all of today’s economic events, check out our economic calendar.