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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Dives 1.2% As Treasury Yields Rise
By:
Key Points:
- Gold pulled back below the $3400 level.
- Silver moved towards the $39.00 level as traders focused on the performance of gold markets.
- Platinum declined below the $1450 level amid profit-taking.
Gold
Gold faced resistance near the $3440 level and pulled back as traders focused on rising Treasury yields.
If gold stays below the $3400 level, it will head towards the support level at $3350 – $3360.
Silver
Silver is losing ground as traders react to the sell-off in gold markets. Gold/silver ratio pulled back towards the 86.50 level, providing support to silver.
A move below the $39.00 level will push silver towards the nearest support, which is located in the $37.30 – $37.50 range.
Platinum
Platinum is moving lower as traders continue to take profits off the table near multi-year highs.
In case platinum settles below $1450, it will head towards the support level at $1400 – $1405.
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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