Gold, Silver, Platinum Forecasts – Gold Rebounds Despite Rising Treasury Yields

Gold

Gold rebounds as markets calm down. Stronger dollar and rising Treasury yields did not put any pressure on gold markets as traders used the recent pullback as an opportunity to increase their long positions.

If gold settles above the $2400 level, it will head towards the nearest resistance at $2445 – $2450.

Silver

Silver remains stuck below the $27.00 level as gold/silver ratio climbed towards the 89 level.

The technical picture looks bearish as silver managed to settle below the previous support at $27.20 – $27.50. Rising gold/silver ratio remains the key problem for silver bulls.

Platinum

Platinum gains ground amid broad rally in commodity markets. The strong performance of palladium, which is up by 3.5%, provides additional support to platinum markets.

Platinum needs to settle back above the nearest resistance at $935 – $940  to have a chance to gain sustainable upside momentum in the near term.

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