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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulls Back Below $4200 As Treasury Yields Rise
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Key Points:
- Gold attempts to settle below the $4200 level.
- Silver failed to settle above the resistance at $58.60 - $58.80.
- Platinum settled near the $1650 level.
Gold
Gold is losing ground as traders focus on rising Treasury yields and prepare for Fed decision, which will be released on Wednesday.
In case gold settles below the support at $4170 – $4180, it will move towards the 50 MA at $4083.
Silver
Silver made another attempt to settle above the key resistance level at $58.60 – $58.80 but lost momentum and pulled back.
If silver settles below the $56.50 level, it will head towards the support at $52.60 – $52.80.
Platinum
Platinum is mostly flat as traders focus on stronger U.S. dollar and wait for additional catalysts.
From the technical point of view, platinum needs to stay above the support at $1620 – $1630 to have a chance to gain upside 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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