Gold, Silver, Platinum – Gold Pulls Back As Dollar Rebounds
- Gold is trying to settle below the $1965 level.
- Silver is heading towards the resistance at $23.50.
- Platinum remains stuck in the $950 – $1000 range.
Gold pulled back towards the $1965 level as U.S. dollar moved higher against a broad basket of currencies. From a big picture point of view, gold continues to face material resistance below the psychologically important $2000 level.
Silver is moving towards the resistance at the $23.50 level. RSI is close to the overbought territory, but there is enough room to gain additional momentum in case the right catalysts emerge. If silver settles above $23.50, it will head towards the $24.00 level.
Platinum rebounds after yesterday’s pullback, although it continues to trade belwo the 20 EMA. At this point, it looks that platinum will need additional catalysts to get out of the $950 – $1000 range.
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