Key Insights
- Gold keeps moving higher as traders focus on weak U.S. dollar.
- Silver moved towards the $24.50 level, supported by the strong performance of gold markets.
- Platinum tested the key $1000 level.
Gold
Gold climbed towards the $2080 level as U.S. dollar tested multi-month lows. Traders remain focused on falling Treasury yields.
In case gold settles above the resistance at $2065 – $2075, it will head towards the next resistance level, which is located in the $2140 – $2150 range, although it may also face resistance near the psychologically important $2100 level.
Silver
Silver managed to stay above the $24.00 level as gold tested new highs. Gold/silver ratio continues to move higher, which is bearish for silver.
In case silver manages to settle above $24.50, it will head towards the resistance at $25.00 – $25.30.
Platinum
Platinum tests the key $1000 level as demand for precious metals continues to increase.
If platinum settles above $1000, it will head towards the next resistance at $1035 – $1045.
For a look at all of today’s economic events, check out our economic calendar.
