Key Insights
- Gold continues its attempts to settle above the resistance at $1975 – $1985.
- Silver settled above the $25.00 level and is moving higher.
- Platinum pulls back amid profit-taking.
Gold
Gold remains stuck near the resistance at $1975 – $1985. U.S. dollar’s rebound served as a negative catalyst for gold markets today.
If gold climbs above the $1985 level, it will move towards the next resistance in the $2015 – $2025 range.
Silver
Silver gains ground despite stronger dollar. Gold/silver ratio pulled back towards the 78.50 level, which was bullish for silver.
Silver has recently managed to settle above the previous resisance at $24.60 – $24.80. RSI is close to the overbought territory, but silver has a decent chance to move towards the next resistance at $25.90 – $26.15.
Platinum
Platinum pulls back as traders take some profits off the table after the strong rebound.
Platinum continues to trade above the support at $965 – $975, and the current pullback looks healthy after the recent rally.
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