Key Insights
- Gold settled back above the $1915 level.
- Silver made an attempt to settle above $22.80.
- Platinum rebounded above the $900 level.
Gold
Gold rebounded above the $1915 level as U.S. dollar pulled back after the release of the PCE Price Index report.
In case gold settles above $1915, it will head towards the next resistance level, which is located in the $1935 – $1940 area.
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Silver
Silver has also moved higher as traders focused on the weakness of the American currency.
A move above the $22.85 level will push silver towards the next resistance in the $23.05 – $23.20 area.
Platinum
Platinum moved above the $900 level amid a broad rebound in precious metals markets.
RSI remains in the oversold territory, so platinum has a decent chance to gain additional upside momentum in case the U.S. dollar remains under pressure.
For a look at all of today’s economic events, check out our economic calendar.