Gold, Silver, Platinum – Platinum Moves Towards Multi-Month Lows

Key Insights

• Gold settled near the $1950 level as traders waited for catalysts. 
• Silver declined towards the $24 level. 
• Platinum pulled back after facing strong resistance near the $1000 level. 

Gold

Gold remains range-bound as traders wait for additional catalysts. Trading is slow due to the U.S. holiday.

Traders should not expect any material moves until gold leaves the $1935 – $1985 range.

Silver

Silver pulled back as traders continued to take profits after the recent rebound, which faced material resistance in the $24.00 – $24.25 range.

In case silver settles below the 50 EMA at $23.95, it will gain additional downside momentum and head towards the support area in the $23.45 – $23.60 range.

Platinum

Platinum remains under pressure and is moving towards the nearest support level in the $965 – $975 range.

Platinum has recently failed to settle above the $1000 level, which indicated that buyers’ interest for platinum remained limited at current levels. A move below $965 will provide platinum with an opportunity to gain additional downside momentum.

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