Key Insights
- Gold settled above the $1850 level and made an attempt to climb above the resistance at $1865.
- Silver made an attempt to settle above the $20.80 level.
- Platinum moved towards the 50 EMA amid a broad rebound in commodity markets.
Gold
Gold tested the $1865 level as traders focused on dollar’s pullback and declining Treasury yields. Demand for safe-haven assets increased due to the problems of the SVB Financial Group, which was bullish for gold markets.
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Silver
Silver has also managed to gain strong upside momentum. Currently, silver is trying to stay above the $20.50 level. In case this attempt is successful, silver will move towards the recent highs at $20.80.
Platinum
Platinum made an attempt to climb above the 50 EMA amid a broad rebound in commodity markets. If platinum settles above the resistance at the 50 EMA, it will head towards the important $1000 level.
For a look at all of today’s economic events, check out our economic calendar.