Key Insights
- Gold made an attempt to settle above the important $2000 level.
- Silver rebounded as gold/silver ratio declined below the 86 level.
- Platinum tested resistance at $935.
Gold
Gold gains some ground as traders focus on U.S. dollar’s pullback. However, gold did not manage to settle above the $2000 level as demand for safe-haven assets decreased.
If gold climbs above $2000, it will move towards the nearest resistance, which is located in the $2015 – $2025 range.
Silver
Silver moved back above the $23.00 level as gold/silver ratio pulled back below 86.
The technical picture has not changed as silver is trading in a wide range between the support at $22.50 and the resistance at $23.60.
Platinum
Platinum continues its attempts to settle above the resistance at $925 – $935, supported by weaker dollar and falling Treasury yields.
A successful test of this level will open the way to the test of the next resistance at $985 – $1000.
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