Gold, Silver, Platinum – Precious Metals Rally As Treasury Yields Test New Lows

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.

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.

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