Key Insights
- Gold tries to settle above the $1840 level as traders focus on weaker dollar.
- Silver tested resistance at $21.15 as the rebound continued.
- Platinum continues its attempts to settle above the 20 EMA.
Gold
Gold is trying to settle above the $1840 level as demand for safe-haven assets is rising. U.S. dollar’s pullback provided additional support to gold markets. The yield of 10-year Treasuries made an attempt to settle above the key 4.00% level but failed to develop sufficient upside momentum and pulled back towards 3.97%, providing additional support to gold.
Silver
Silver continues to rebound after the strong pullback. Currently, it is trying to climb above the resistance at $21.15. In case this attempt is successful, silver will move towards the next resistance level, which is located at $21.40.
Platinum
Platinum attempts to settle above the 50 EMA as traders react to the better-than-expected economic data from China. The rebound of the Chinese economy may boost industrial demand for platinum.
For a look at all of today’s economic events, check out our economic calendar.