Key Insights
- Gold continues its attempts to settle below the support at $1975 – $1985.
- Silver is moving lower as gold/silver ratio tests the 87 level.
- Platinum moved back towards the resistance at $925.
Gold
Gold remains under pressure after the release of U.S. inflation reports which met analyst estimates.
Currently, gold is trying to settle below the support at $1975 – $1985. In case this attempt is successful, it will move towards the next support at $1935 – $1945.
Silver
Silver is losing ground as gold/silver ratio is trying to settle above the 87.00 level. Rising gold/silver ratio served as the key bearish catalyst for silver in December.
From the technical point of view, a move below the $22.75 level will open the way to the test of the support at $22.25 – $22.50.
Platinum
Platinum gains ground as the rebound continues. However, platinum needs to settle above the strong resistance at $925 – $935 to have a chance to gain sustainable momentum.
A move above $935 will push platinum towards the next significant resistance level, which is located in the $990 – $1000 range.
For a look at all of today’s economic events, check out our economic calendar.
