Gold, Silver, Platinum – Gold Rebounds From Multi-Week Lows
- Gold received support near the $1930 level and moved back above the $1950 level.
- Silver settled in the $22.90 – $23.25 range.
- Platinum moved towards the support at $1015 amid recession worries.
Gold rebounded from session lows as traders focused on the pullback in Treasury yields.
In case gold manages to settle back above the $1965 level, it will move towards the resistance at $1980. A successful test of this level will push gold towards the $2000 level.
R1:$1965 – R2:$1980 – R3:$2000
S1:$1950 – S2:$1930 – S3:$1915
Silver is swinging between gains and losses as traders wait for additional catalysts.
In case silver moves above the $23.25 level, it will head towards the resistance at $23.50. On the support side, a successful test of the $22.90 level will push silver towards the next support at $22.60.
R1:$23.25 – R2:$23.50 – R3:$23.80
S1:$22.90 – S2:$22.60 – S3:$22.15
Platinum pulled back towards the low end of the current trading range amid recession worries.
If platinum settles below $1015, it will head towards the support at the $1000 level. A move below this level will push platinum towards the support at $980.
R1:$1040 – R2:$1065 – R3:$1080
S1:$1015 – S2$1000 – S3$980
For a look at all of today’s economic events, check out our economic calendar.