Key Insights
- Gold is swinging between gains and losses despite rising Treasury yields.
- Silver pulls back as gold/silver ratio keeps moving higher.
- Platinum is losing ground amid profit-taking.
Gold
Gold is mostly flat despite stronger dollar and higher Treasury yields. Demand for safe-haven assets is rising amid tensions in Red Sea, which is bullish for gold markets.
In case gold manages to settle above the nearest resistance at $2065 – $2075, it will head towards the $2100 level.
Silver
Silver remains under pressure as gold/silver ratio continues its attempts to settle above the 87.00 level. The near-term market sentiment remains bearish despite strong gold markets.
If silver pulls back below the $23.40 – $23.60 level, it will head towards the support at $22.25 – $22.50.
Platinum
Platinum is losing some ground as traders continue to take profits after the strong rally.
From the technical point of view, platinum needs to settle above the resistance at $990 – $1000 to have a chance to gain upside momentum in the near term.
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