Key Insights
- Gold continues its attempts to settle above the $1985 level.
- Silver is losing ground as gold/silver ratio settled above the 87 level.
- Platinum pulled back towards the $900 level.
Gold
Gold is trading near the $1985 level as demand for safe-haven assets remains strong amid geopolitical tensions.
If gold manages to settle above $1985, it will head towards the next resistance at $2015 – $2025.
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Silver
Silver remains under pressure as gold/silver ratio settled above the 87 level. U.S. dollar’s pullback did not provide support to silver markets.
From the technical point of view, silver remains stuck between the support at $22.50 and the resistance at $23.40.
Platinum
Platinum is trying to settle below the $900 level while traders wait for additional catalysts.
A move below the $900 level will push platinum towards the support at $880 – $890.
For a look at all of today’s economic events, check out our economic calendar.