Gold, Silver, Platinum Forecasts – Gold Stays Strong Despite Rising Treasury Yields

Gold

Gold gains some ground despite rising Treasury yields. Demand for gold stays strong as central banks continue to buy gold for reserves.

If gold stays above the $2150 level, it will head towards the resistance at $2190 – $2200.

Silver

Silver pulled back towards the $25.00 level as gold/silver ratio rebounded above the 86 level.

RSI remains in the moderate territory, so there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

Platinum

Platinum is under pressure as traders focus on the strong sell-off in palladium markets, which are down by 4.1%. Interestingly, the better-than-expected economic data from China did not provide any support to platinum and palladium.

In case platinum settles below the $925 level, it will head towards the nearest support, which is located in the $880 – $890 range.

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