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Gold, Silver, Platinum – Gold Rallied Towards The $2000 Level

By:
Vladimir Zernov
Published: Mar 23, 2023, 16:54 UTC

The weak U.S. dollar provided additional support to precious metals markets today.

Gold

In this article:

Key Insights

  • Gold moved towards the psychologically important $2000 level. 
  • Silver continues its attempts to settle above $23.00.
  • Platinum remains stuck below the $1000 level. 

Gold

Gold
Gold 230323 Daily Chart

Gold rallied towards the $2000 level as the U.S. dollar tested multi-week lows. The yield of 2-year Treasuries pulled back below the 3.90% level, which was also bullish for gold markets.

Silver

Silver
Silver 230323 Daily Chart

Silver continues its attempts to settle above the $23.00 level. RSI remains in the moderate territory, so there is plenty of room to gain upside momentum in the upcoming trading sessions. If silver settles above $23.00, it will move towards the resistance at $23.50.

Platinum

Platinum
Platinum 230323 Daily Chart

Platinum  is facing strong resistance near the psychologically important $1000 level. To continue its rebound, platinum needs to climb above $1000. If platinum failes to settle above the $1000 level, it will gain downside momentum and move below the 20 EMA at $975.

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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