Gold, Silver, Platinum – Silver Gains 2.2% As Rally Continues

Key Insights

• Gold is trying to settle above the $1960 level. 
• Silver tested new highs as gold/silver ratio settled below the 80 level. 
• Platinum moved towards $980 as the rebound continued. 

Gold

Gold continues its attempts to settle above the 50 MA as dollar tests new lows. Interestingly, gold markets did not manage to gain strong momentum as demand for safe-haven assets did not grow.

In case gold settles above the 50 MA, it will move towards the resistance, which is located in the $1975 – $1985 range.

Silver

Silver rallies as gold/silver ratio tests new lows below the 80 level. Traders bet that industrial demand for silver would grow.

In case silver manages to settle above the resistance level at $24.60 – $24.80, it will move towards the resistance in the $25.25 – $25.50 range. RSI remains in the moderate territory, which is bullish for silver markets.

Platinum

Platinum continues to rebound amid a broad rally in precious metals markets.

A move above the $975 level will open the way to the test of the resistance in the $1000 – $1010 range.

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