Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats As Treasury Yields Soar

Gold

Gold pulled back as traders reacted to the better-than-expected Non Farm Payrolls report. Treasury yields moved higher, which was bearish for gold.

In case gold settles below the $3000 level, it will head towards the support level at $3235 – $3245.

Silver

Silver  tested new highs as gold/silver ratio pulled back towards the 92.00 level.

RSI has recently moved into the overbought territory, but there is enough room to gain momentum in case the right catalysts emerge.

Platinum

Platinum climbed above the resistance at $1135 – $1140 as the strong rally continued.

If platinum stays above the $1150 level, it will head towards the next resistance, which is located in the $1195 – $1200 range.

For a look at all of today’s economic events, check out our economic calendar.