Gold, Silver, Platinum – Gold Pulls Back As Demand For Safe-Haven Assets Declines

Key Insights

• Gold failed to settle above the $1930 level and pulled back towards $1915.
• Silver is trying to settle below the support at $21.50.
• Platinum gained upside momentum and is trying to climb above the 50 EMA near the $980 level. 

Gold

Gold faced resistance near $1930 and pulled back. It looks that the ECB managed to calm traders, so demand for safe-haven assets declined. In addition, traders continue to take profits off the table after the strong rally.

Silver

Silver pulled back towards the $21.50 level after an unsuccessful attempt to settle above the 50 EMA. If silver settles below $21.50, it will move towards the next support level, which is located at the 20 EMA at $21.30.

Platinum

Platinum received support near the 20 EMA and tested the resistance at the 50 EMA at $978. If platinum manages to settle back above the 50 EMA, it will head towards the resistance at the $1000 level.

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