Key Insights
- Gold is trying to settle below the $1910 level.
- Silver moved below the $23.00 level as Treasury yields tested new highs.
- Platinum tested support at the $900 level.
Gold
Gold is losing ground as traders focus on rising Treasury yields. At the same time, rising demand for safe-haven assets provides some support to gold markets.
In case gold manages to settle below the $1910 level, it will move towards the next support in the $1875 – $1885 area.
Silver
Silver settled back below the $23.00 level as gold/silver ratio rebounded above the 84 level.
If silver settles below the support at $22.70 – $22.85, it will head towards the next support level at $22.00 – $22.20.
Platinum
Platinum has also moved lower amid a broad pullback in precious metals markets, which was triggered by rising government bond yields.
If platinum manages to settle below the $900 level, it will head towards the next support, which is located in the $870 – $880 area.
For a look at all of today’s economic events, check out our economic calendar.
