Key Insights
- Gold moved above the $2035 level as traders focused on falling Treasury yields.
- Silver received support in the $22.25 – $22.50 range.
- Platinum climbed above the psychologically important $900 level.
Gold
Gold rebounds as traders focus on the pullback in Treasury yields. From a big picture point of view, gold remains range-bound as traders wait for significant catalysts.
In case gold manages to climb above the $2050 level, it will get to the test of the resistance at $2065 – $2075.
Silver
Silver received support in the $22.25 – $22.50 range and is trying to gain upside momentum.
A move above the $22.50 level will push silver towards the $23.00 level. Traders should note that gold/silver ratio continues to move higher, which is bearish for silver.
Platinum
Platinum gains ground amid a broad rebound in precious metals markets.
If platinum stays above the $900 level, it will head towards the resistance at $925 – $935.
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