Gold, Silver, Platinum – Gold Pulled Back Below The $1950 Level

Key Insights

• Gold markets retreat as demand for safe-haven assets declines. 
• Silver pulled back towards the $22.15 level. 
• Platinum tests support at the 20 EMA at $970.

Gold

Gold settled below the $1950 level as demand for safe-haven assets declined. Treasury yields continue to rebound as traders bet that regulators will stabilize the situation in the banking sector. U.S. dollar remains under pressure ahead of the Fed decision, which will be released tomorrow. However, gold traders ignore the dynamics of the American currency and focus on the fluctuations of demand for safe-haven assets.

Silver

Silver pulled back towards the $22.15 level as traders continued to take profits after the recent rally. Rising Treasury yields served as an additional bearish catalyst for silver markets.

Platinum

Platinum is currently trying to settle below the support level at the 20 EMA at $970. In case this attempt is successful, platinum will head towards the next support, which is located at $950.

For a look at all of today’s economic events, check out our economic calendar.