Key Insights
- Stronger dollar puts significant pressure on gold markets.
- Silver managed to settle below the $23.00 level.
- Platinum is trying to get below the psychologically important $900 level.
Gold
Gold tests support at $1900 as U.S. dollar continues to move higher amid worries about the potential U.S. government shutdown.
In case gold settles below the $1900 level, it will head towards the next support, which is located in the $1875 – $1885 range.
Silver
Silver is also losing ground as traders focus on stronger dollar and rising Treasury yields.
From the technical point of view, silver settled below the $23.00 level and is moving towards the support at $22.25 – $22.50.
Platinum
Platinum made an attempt to settle below the $900 level amid a broad pullback in precious metals markets.
If platinum settles below $900, it will head towards the nearest support level, which is located in the $880 – $890 range.
For a look at all of today’s economic events, check out our economic calendar.
