Key Insights
- Gold moved towards new highs as the strong rally continued.
- Silver tested the key resistance at $25.00 – $25.30.
- Platinum pulled back amid a strong sell-off in palladium markets.
Gold
Gold tested new highs as the rally continued. Falling Treasury yields provided material support to gold markets.
Traders should note that RSI has recently moved into the overbought territory, so gold will need significant catalysts to climb above the nearest resistance at $2055 – $2065.
Silver
Silver tested resistance at $25.00 – $25.30 as traders focused on the strong performance of the gold markets.
Silver faced strong resistance in the $25.00 – $25.30 back in July, so it will need significant catalysts to move above this level.
Platinum
Platinum pulls back as traders focus on the sell-off in platinum markets.
From the technical point of view, platinum needs to settle above the $950 level to gain additional upside momentum.
For a look at all of today’s economic events, check out our economic calendar.
