Gold, Silver, Platinum – Gold Retreats As Traders Focus On Rising Treasury Yields

Key Insights

• Gold moved lower after the release of the better-than-expected U.S. PMI data. 
• Silver made an attempt to settle above the $22.00 level. 
• Platinum tests resistance at $940.

Gold

Gold declined below the $1835 level as traders reacted to rising Treasury yields. The yield of 10-year Treasuries made an attempt to settle above the 3.95% level after the release of the better-than-expected PMI data. In case Treasury yields continue to move higher, gold markets may find themselves under more pressure.

Silver

Silver traders ignored rising Treasury yields, and silver markets continued to rebound. RSI has recently moved away from the oversold territory, so there is plenty of room to gain additional upside momentum in the upcoming trading sessions.

Platinum

Platinum continues its attempts to settle above the $940 level as the rebound continues. A move above this level will push platinum towards the resistance at the 20 EMA at $965.

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