Key Insights
- Gold appears undeterred by a muscular dollar and climbing Treasury yields.
- Silver’s performance has been more constrained, failing to cross the $24.50 resistance mark as traders take their gains post-rebound.
- Platinum, in stark contrast, forges new highs and shows bullish temperament even in the face of ascending Treasury yields.
Gold
Gold continues its attempts to settle above the resistance at $1900 – $1910 despite stronger dollar and rising Treasury yields.
If gold manages to stay above the $1910 level, it will move towards the next resistance in the $1935 – $1940 range.
Silver
Silver remains stuck below the resistance at $24.25 – $24.50 as traders continue to take profits after the strong rebound. Interestingly, Powell’s remarks did not put any material pressure on silver markets.
A move above the $24.50 level will open the way to the test of the next resistance, which is located in the $25.00 – $25.25 range.
Platinum
Platinum tested new highs as the rebound continued. Platinum traders stay bullish despite rising Treasury yields.
From the technical point of view, platinum has already managed to settle above the previous resistance in the $925 – $935 range and is moving towards the next resistance level, which is located at $975 – $985.
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