Key Insights
- Gold continues its attempts to settle above the resistance at $1935 – $1940.
- Silver tried to settle above $23.20 but lost momentum and pulled back.
- Platinum tested the $935 level.
Gold
Gold tests resistance in the $1935 – $1940 range as trader focus on U.S. dollar’s pullback.
This resistance level has already been tested many times and proved its strength. In case gold settles above $1940, it will head towards the resistance in the $1975 – $1985 range.
Silver
Silver made an attempt to settle above the $23.20 level but lost momentum and pulled back.
The resistance at $23.05 – $23.20 stays strong. In case silver declines below the $23.05 level, it will move towards the support in the $22.70 – $22.85 range.
Platinum
Platinum made an attempt to climb above the $935 level but failed to develop sufficient upside momentum and pulled back. Traders stay cautious ahead of tomorrow’s U.S. inflation reports.
From the technical point of view, platinum needs to get above the $935 level to continue its rebound.
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