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Gold, Silver, Platinum – Precious Metals Rebound As Treasury Yields Pull Back

By:
Vladimir Zernov
Published: Mar 3, 2023, 16:34 UTC

U.S. dollar is losing ground against a broad basket of currencies, providing additional support to precious metals.

Gold

In this article:

Key Insights

  • Gold tests resistance at the 50 EMA.
  • Silver continues its attempts to settle above the $21.15 level. 
  • Platinum tests multi-week highs near the 50 EMA. 

Gold

Gold
Gold 030323 Daily Chart

Gold is currently trying to settle above the 50 EMA at $1845 as traders focus on the pullback in Treasury yields. In case gold manages to settle above the 50 EMA, it will gain additional upside momentum and move towards the next resistance level, which is located at $1865.

Silver

Silver
Silver 030323 Daily Chart

Silver continues its attempts to settle above the $21.15 level as precious metals rebound. A move above this level will provide silver with an opportunity to gain additional upside momentum.

Platinum

Platinum
Platinum 030323 Daily Chart

Platinum  is heading towards the resistance at the 50 EMA near the $980 level. A successful test of the 50 EMA will push platinum towards the psychologically important $1000 level.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.

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