Key Insights
- Gold markets are calm ahead of the weekend.
- Silver is trying to settle above the $24.00 level.
- Platinum failed to climb above $1000 and pulled back.
Gold
Gold remains stuck in a tight range while Treasury yields are moving higher. U.S. dollar’s rebound has also put some pressure on gold markets.
Gold markets remain range-bound, and it looks that traders will have to wait until the next week to see any moves.
Silver
Silver moved higher as the rebound continued. Higher Treasury yields and stronger dollar did not put any pressure on silver markets.
Silver is at an important point as is has a real chance to settle above the $24 level and develop additional upside momentum that would push it above $24.50.
Platinum
Platinum faced resistance near the psychologically important $1000 level and pulled back.
The previous downside trend remains intact, although platinum may try to stabilize in the $975 – $1000 range before the next move.
For a look at all of today’s economic events, check out our economic calendar.