Key Insights
- Gold rebounded towards the $1970 level.
- Silver tested resistance at $23.25.
- Platinum is trying to settle below the support at $965.
Gold
Gold found support near the $1950 level and rebounded towards $1970 despite rising Treasury yields. U.S. dollar’s pullback served as a positive catalyst for gold markets. In addition, it looks that demand for safe-haven assets remains strong amid worries about the health of the banking sector.
Silver
Silver is currently trying to settle above the resistance at $23.25. In case this attempt is successful, silver will move towards the next resistance level, which is located at the recent highs at $23.50.
Platinum
Platinum settled below the 20 EMA and is trying to settle below the support at $965. In case this attempt is successful, platinum will have a good chance to gain material downside momentum and move towards the support level at $930.
For a look at all of today’s economic events, check out our economic calendar.