Gold, Silver, Platinum – Precious Metals Move Higher As Treasury Yields Decline

Key Insights

• Gold rebounded towards the $1830 level as the yield of 10-year Treasuries settled back below the 4.00% level. 
• Silver remained stuck near the important $20.00 level. 
• Platinum made an attempt to climb above the 20 EMA at $955.

Gold

Gold rebounded towards the $1830 level as Treasury yields declined. U.S. dollar’s pullback provided additional support to gold markets. In order to have a chance to gain sustainable upside momentum, gold needs to settle above the 50 EMA near the $1840 level.

Silver

Silver remains stuck near the $20.00 level. It has recently made an attempt to climb above $20.30 but lost momentum and pulled back. At this point, it looks that the risk of an additional sell-off is increasing as silver stays glued to the $20.00 level.

Platinum

Platinum has recently tested the 20 EMA at $955. If platinum gets above this level, it will move towards the next resistance, which is located at the 50 EMA near $977.

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