Gold, Silver, Platinum – Silver Markets Rebound From Multi-Week Lows
- Gold tested new highs near the $1940 level.
- Silver moved away from multi-week lows amid rising demand for precious metals.
- Platinum settled back above the 20 EMA.
Silver managed to rebound after yesterday’s sell-off. Silver received strong support near the 50 EMA at $22.90 and moved towards the 20 EMA at $23.65. A move above the 20 EMA will push silver towards the $24.00 level.
Platinum settled back above the 20 EMA amid rising demand for precious metals. RSI is in the moderate territory, and there is enough room to gain additional upside momentum in case the right catalysts emerge. The nearest significant resistance level for platinum is located at $1080. In case platinum settles above this level, it will head towards the next resistance level at multi-month highs at $1110.
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