Key Insights
- Gold is swinging between gains and losses in the final trading session of the year.
- Silver moved lower as gold/silver ratio tested new highs.
- Platinum declined as traders took profits after the recent rally.
Gold
Gold is mostly flat in the final trading session of the year as traders wait for catalysts.
From the technical point of view, gold needs to settle above the resistance at $2065 – $2075 to have a chance to gain additional momentum.
Silver
Silver is losing ground as gold/silver ratio made an attempt to settle above the 87.00 level.
Silver tested support at $23.40 – $23.60 but failed to develop sufficient momentum and rebounded towards the $24.00 level. A move above $24.00 will push silver towards the $24.50 level.
Platinum
Platinum pulls back as traders take some profits off the table after the strong rally.
If platinum stays above the $990 – $1000 level, it will head towards the resistance at $1035 – $1045.
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