Gold, Silver, Platinum – Platinum Tests The $930 Level

Key Insights

• Gold remains stuck in the $1910 – $1940 range. 
• Silver is trying to settle above the $23.00 level. 
• Platinum gains ground amid a broad rebound in precious metals markets. 

Gold

Gold gains some ground but traders are not ready for big moves during the major U.S. holiday.

From the technical point of view, gold is stuck below the support at $1910 and the resistance at $1940. Gold needs to climb above the $1940 level to have a chance to gain momentum.

Silver

Silver is also moving higher as gold/silver ratio continues to move lower. U.S. dollar is flat, so currency dynamics do not have a material impact on precious metals markets.

The nearest resistance level for silver is located in the $23.05 – $23.20 area. A move above the $23.20 level will push silver towards the $24.00 – $24.20 range.

Platinum

Platinum made an attempt to settle above the $930 level as the rebound continued.

If platinum settles above the $930 – $935 level, it will head towards the next resistance, which is located in the $965 – $975 range.

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