Gold, Silver, Platinum – Silver Dives 1.9% As Traders Focus On Rising Yields

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.

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