Key Insights
- Gold gains some ground while traders are waiting for catalysts.
- Silver settled above the nearest support at $23.40 – $23.60.
- Platinum declined below the $920 level as the pullback continued.
Gold
Gold remains stuck below the key $2000 level as traders wait for catalysts during the U.S. holiday.
If gold manages to settle above the $2000 level, it will gain additional upside momentum and move towards the resistance at $2015 – $2025.
Silver
Silver continues to trade above the nearest support level at $23.40 – $23.60 as U.S. dollar is losing ground against a broad basket of currencies.
From the technical point of view, silver needs to settle above the $24.00 level to gain momentum.
Platinum
Platinum remains under pressure as traders continue to take profits after the recent rally.
The nearest significant support level for platinum is located in the $880 – $890 range, but platinum may also get some support at the 50 MA at $900.
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