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