Key Insights
- Gold moved back towards the $1975 level as demand for safe-haven assets remained strong.
- Silver settled below $23.00 as U.S. dollar gained ground against a broad basket of currencies.
- Platinum pulled back towards the support at $880.
Gold
Gold is mostly flat as traders evaluate the recent developments in Israel – Hamas conflict.
In case gold settles back above the resistance at $1975 – $1985, it will move towards the next resistance level at $2015 – $2025.
Silver
Silver is losing some ground as U.S. dollar moves higher after the release of the better-than-expected U.S. PMI reports.
If silver stays below the $23.00 level, it will head towards the nearest support, which is located in the $22.25 – $22.50 range.
Platinum
Platinum remains stuck below the $900 level amid a lack of positive catalysts.
If platinum declines below $880, it will head towards the next support level at $835 – $845.
For a look at all of today’s economic events, check out our economic calendar.
