Gold, Silver, Platinum – Gold Tests New Highs Amid Rising Demand For Safe-Haven Assets

Key Insights

• Gold is heading towards the $1930 level.
• Silver made an attempt to settle above the $22.00 level. 
• Platinum tested support at the 20 EMA at $965.

Gold

Gold tested new highs amid rising demand for safe-haven assets. Traders worry about a potential banking crisis in Europe. The sharp drop in Treasury yields has also provided support to gold markets.

Silver

Silver has recently made an attempt to settle above the $22.00 level. Silver has enjoyed a strong rebound from yearly lows, but it remains to be seen whether it will be able to gain additional momentum if markets remain worried about the potential banking crisis.

Platinum

Platinum tested the 20 EMA at $965 amid demand worries. Platinum is dependent on industrial demand which could be hurt if banks’ problems are not resolved.

For a look at all of today’s economic events, check out our economic calendar.