Gold, Silver, Platinum – Gold Gains Ground Amid Rising Demand For Precious Metals

Key Insights

• Gold moved above the $1970 level. 
• Silver gained almost 2% as demand for precious metals increased. 
• Platinum rebounded from weekly lows. 

Gold

Gold rebounded towards the $1970 level as traders focused on the pullback in Treasury yields.

In case gold manages to settle above the resistance in the $1975 – $1985 range, it will move towards the next resistance area, which is located at $2015 – $2025.

Silver

Silver gained strong upside momentum amid a broad rally in precious metals markets.

The nearest resistance for silver is located in the $25.10 – $25.30 range. A move above $25.30 will push silver towards the next resistance at $25.90 – $26.10.

Platinum

Platinum rebounded from recent lows as traders focused on the strong performance of commodity markets.

From the technical point of view, platinum needs to settle above the resistance at $965 – $975 to have a chance to gain additional upside momentum.

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