Silver is trying to climb back above $22.25 after an unsuccessful attempt to settle below the $22.00 level.
Gold rebounds from recent lows as traders focus on U.S. dollar’s pullback. Falling Treasury yields provide additional support to gold markets.
In case gold climbs back above the $1950 level, it will head towards the nearest resistance at $1975 – $1985.
Silver moved away from session lows, supported by rising gold prices.
From the technical point of view, the current situation is extremely interesting as silver has recently made an attempt to settle below the support at $22.25. If silver manages to settle back above this level, it will have a good chance to gain upside momentum.
Platinum rebounds as traders take some profits off the table after the strong move. The rebound in palladium markets provided additional support to platinum.
If platinum settles back above the $860 level, it will head towards the nearest resistance at $880 – $890.
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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.