Gold, Silver, Platinum Forecasts – Gold Rebounds As Treasury Yields Decline

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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