Key Insights
- Gold moved above the $1940 level as the strong rebound continued.
- Silver tested new highs near the $25.00 level.
- Platinum pulled back amid profit-taking.
Gold
Gold continues to move higher as traders focus on U.S. dollar’s pullback, which is driven by the disappointing economic data from the U.S.
In case gold stays above the $1940 level, it will head towards the next resistance, which is located in the $1975 – $1985 range.
Silver
Silver tested new highs as the rally continued. Treasury yields moved lower, providing additional support to silver.
A successful test of the resistance at $25.00 – $25.25 will open the way to the test of the next resistance, which is located in the $25.90 – $26.15 range.
Platinum
Platinum pulls back as traders take some profits off the table after the strong rally from August lows.
If platinum moves back below the $975 level, it will head towards the nearest support at $925 – $935.
For a look at all of today’s economic events, check out our economic calendar.