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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Attempts To Settle Below $3300 As Treasury Yields Rise
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Key Points:
- Gold is losing ground as traders focus on the dynamics of Treasury yields.
- Silver pulled back as traders focused on the performance of gold markets.
- Platinum settled in a range between the support at $1335 - $1340 and the resistance at $1400 - $1405.
Gold
Gold is losing ground as Treasury yields continue to move higher. Stronger dollar puts additional pressure on gold markets.
In case gold settles below the $3300 level, it will head towards the support at $3235 – $3245.
Silver
Silver pulled back as traders focused on the weakness of gold markets. RSI is in the moderate territory, and there is plenty of room to gain additional momentum in the near term.
If silver settles back below the $36.50 level, it will head towards the support at $35.65 – $35.85.
Platinum
Platinum is mostly flat in volatile trading. The market continues to consolidate after the strong rally.
The technical picture remains unchanged as platinum needs to settle above the $1405 level to gain additional momentum in the near term.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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