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Gold, Silver, Platinum – Gold Pulls Back As Dollar Rebounds

By:
Vladimir Zernov
Published: Mar 29, 2023, 17:01 UTC

Gold is facing strong resistance below the key $2000 level.

Gold

In this article:

Key Insights

  • 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

Gold
Gold 290323 Daily Chart

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

Silver
Silver 290323 Daily Chart

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

Platinum
Platinum 290323 Daily Chart

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.

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

About the Author

Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.

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