Key Insights
- Gold faces significant pressure as 10-year Treasury yields surpass the 4.30% mark.
- Silver’s resilience is on display, rebounding as the gold/silver ratio approaches 83.
- Platinum teeters, clinging to the $890 mark, despite attempts to breach $900.
Gold
Gold remains under strong pressure as Treasury yields test new highs. The yield of 10-year Treasuries has recently managed to settle above the 4.30% level, while the yield of 2-year Treasuries settled near 5.00%.
Gold has already declined below the $1900 level and is heading towards the next support, which is located in the $1860 – $1870 range.
Silver
Silver rebounded from recent lows as gold/silver ratio pulled back towards the 83 level.
It remains to be seen whether this rebound will be sustainable as Treasury yields continue to move higher. A move below the $22.15 level will push silver towards the support at $21.50 – $21.70.
Platinum
Platinum remains stuck near the key $890 level after an unsuccessful attempt to settle back above $900.
Most likely, platinum will quickly move towards the support at $850 – $860 in case it manages to settle below the important support at $890.
For a look at all of today’s economic events, check out our economic calendar.
