Key Insights
- Gold tries to settle below the support at $1935.
- Silver is down by more than 2% amid a broad pullback in precious metals markets.
- Platinum tests support in the $925 – $935 range.
Gold
Gold is trying to settle below the support at $1935 – $1940 as traders remain focused on stronger dollar and rising Treasury yields.
In case gold declines below the $1935 level, it will move towards the support in the $1900 – $1910 range.
Silver
Silver found itself under strong pressure and moved below the $24.00 level amid a broad pullback in precious metals markets.
In case silver settles below $24.00, it will move towards the next support, which is located in the $23.00 – $23.25 range.
Platinum
Platinum tests support at $925 – $935 as traders react to U.S. debt downgrade and stay focused on strong dollar.
If platinum moves below the $925 level, it will head towards the next support at $890 – $900.
For a look at all of today’s economic events, check out our economic calendar.