Gold, Silver, Platinum – Gold Faced Strong Resistance Near $2000

By:Vladimir Zernov

Published: Mar 24, 2023, 16:49 UTC•1min read

Gold and silver traders take some profits off the table after the recent rally.

Mentioned in Article

Gold

$1,960.97

-0.23%

Silver

$24.286

+0.07%

Platinum

$1,012.24

-0.09%

Key Insights

Gold declined towards the $1985 level.
Silver pulled back from session highs amid profit-taking.
Platinum failed to settle below the 20 EMA.

Gold

Gold 240323 Daily Chart

Gold faced resistance near the $2000 level and pulled back as Treasury yields rebounded from session lows. The strong U.S. dollar put additional pressure on gold markets.

Silver

Silver 240323 Daily Chart

Silver pulled back from session highs as traders took some profits off the table after the strong rally. Gold/silver ratio is currently testing the 50 EMA at 85.35. A move below this level will provide additional support to silver.

Platinum

Platinum 240323 Daily Chart

Platinum made an attempt to settle below the 20 EMA but failed to develop sufficient downside momentum and rebounded above the $980 level. From a big picture point of view, platinum remains stuck in a tight range below the important $1000 level.

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