Gold, Silver, Platinum – Platinum Gains 3% As Traders Bet On A Rebound
- Gold moved towards $1960 after the recent pullback.
- Silver climbed back above the $23.50 level.
- Platinum gained strong upside momentum and tested resistance at $1040.
Gold rebounded towards the $1960 level as U.S. dollar lost some ground against a broad basket of currencies.
The nearest resistance level for gold is located at $1965. In case gold climbs above this level, it will move towards the next resistance at $1980.
R1:$1965 – R2:$1980 – R3:$2000
S1:$1950 – S2:$1930 – S3:$1915
Silver managed to rebound from session lows but it remains to be seen whether it will be able to gain sustainable momentum in absence of additional positive catalysts.
A move above the $23.80 level will push silver towards the resistance at $24.10. On the support side, a successful test of the $23.50 level will open the way to the test of the next support level at $23.25.
R1:$23.80 – R2:$24.10 – R3$24.60
S1:$23.50 – S2:$23.25 – S3:$22.90
Platinum gained ground as traders bet on the rebound after the multi-week pullback.
A move above the $1040 level will push platinum towards the resistance at $1065. If platinum settles above $1065, it will head towards the next resistance at $1085.
R1:$1040 – R2:$1065 – R3:$1085
S1:$1015 – S2:$1000 – S3:$980
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