Key Insights
- Gold is trying to settle above the psychologically important $2000 level.
- Silver moved towards the $24.00 level amid a broad rally in precious metals markets.
- Platinum tested new highs near the $940 level.
Gold
Gold is currently trying to settle above the $2000 level as precious metals move higher. Falling Treasury yields provide additional support to gold markets.
In case gold settles above $2000, it will get to the test of the nearest resistance level at $2015 – $2025.
Silver
Silver gained upside momentum as gold/silver ratio moved back below the 84 level.
If silver climbs above the $24.00 level, it will move towards the resistance, which is located in the $25.00 – $25.30 range.
Platinum
Platinum tests new highs as thre strong rebound from November lows continues. Traders bet that demand for platinum will grow as China’s economy recovers.
A move above the resistance at $925 – $935 opens the way to the test of the next resistance at $990 – $1000.
For a look at all of today’s economic events, check out our economic calendar.