Key Insights
- Gold remains stuck in the $1910 – $1935 range.
- Silver rebounded towards the $22.80 level.
- Platinum moved higher amid profit-taking.
Gold
Gold gains some ground as U.S. dollar moves lower against a broad basket of currencies.
At this point, gold is stuck in the $1910 – $1935 range, which is a disappointing development for the bulls as gold failed to climb back into the previous $1935 – $1985 range.
Silver
Silver continues to rebound as gold/silver ratio moved below the 85 level. Weaker dollar provides additional support to silver.
In case silver settles above $22.85, it will head towards the next resistance area in the $23.05 – $23.20 range.
Platinum
Platinum gained some ground after the multi-day pullback amid a broad rebound in precious metals markets.
At this point, the move looks like a technical pullback. Platinum needs to settle above $935 to have a chance to gain sustainable momentum.
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