Key Insights
- Gold continues to trade near the $1940 level.
- Silver pulls back as traders remain focused on profit-taking.
- Platinum declined below the $960 level.
Gold
Gold remains stuck near the $1940 level as traders wait for additional catalysts. U.S. dollar’s pullback did not provide sufficient support to gold markets today.
In case gold settles below the $1935 level, it will move towards the nearest support, which is located in the $1900 – $1910 range.
Silver
Silver is trying to settle below the support at $24.25 as the pullback continues. Traders take profits after the recent rebound, and silver needs additional positive catalysts to get back to the upside mode.
If silver stays below the $24.25 level, it will move towards the 200 MA at $23.45.
Platinum
Platinum is also moving lower in today’s trading session. As in silver’s case, profit-taking is the main driver for the move.
From the technical point of view, platinum is heading towards the nearest support level at $925 – $935.
For a look at all of today’s economic events, check out our economic calendar.