Key Insights
- Gold pulled back towards the $1830 level as Treasury yields moved to new highs.
- Silver suffered a strong sell-off as gold/silver ratio climbed above the 86 level.
- Platinum tested support at $880 amid a broad pullback in precious metals markets.
Gold
Gold tested new lows as traders remained focused on rising Treasury yields and strong dollar.
In case gold stays below the $1845 level, it will head towards the next support, which is located in the $1805 – $1815 range.
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Silver
Silver gained strong downside momentum as gold/silver ratio rallied above the 86 level.
A move below the support at $21.20 – $21.50 will push silver towards the next support level at $19.90 – $20.20.
Platinum
Platinum tests support at $880 – $890 amid a broad sell-off in precious metals markets.
A successful test of this level will open the way to the test of the next support at $835 – $845.
For a look at all of today’s economic events, check out our economic calendar.