Gold, Silver, Platinum Forecasts – Gold Remains Under Pressure

Key Insights

• Gold is losing ground as Treasury yields continue to move higher. 
• Silver rebounds as gold/silver ratio retreats towards 86.
• Platinum dips below the important $880 level. 

Gold

Gold remains under pressure as Treasury yields test new highs after the release of the better-than-expected JOLTs Job Openings report.

Traders should note that RSI is in the extremely oversold territory, so the risks of a rebound are increasing.

Silver

Silver rebounds from recent lows as gold/silver ratio pulls back towards the 86 level.

RSI remains in the oversold territory, so silver has a decent chance to gain additional upside momentum.

Platinum

Platinum moved below the $880 level as the pullback continued. High yields and strong dollar served as the key bearish catalysts for platinum.

In case platinum settles below the support at $880 – $890, it will head towards the next support level at $835 – $845.

For a look at all of today’s economic events, check out our economic calendar.