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Gold, Silver, Platinum Forecasts – Gold Is Losing Ground As Treasury Yields Rise
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Key Points:
- Gold stays below the $2650 level as traders focus on rising yields.
- Silver made an attempt to settle below the $31.45 level.
- Platinum moved towards the $975 level.
Gold
Gold is losing some ground as traders focus on rising Treasury yields and continue to take profits near historic highs.
The technical picture remains unchanged as gold is stuck below the key resistance at $2675 – $2685.
Silver
Silver pulled back as gold/silver ratio rebounded above the 83.00 level. RSI is in the moderate territory, so there is enough room to gain additional downside momentum in the near term.
If silver settles below the $31.45 level, it will head towards the 50 MA at $29.51.
Platinum
Platinum is losing ground amid rising Treasury yields. From a big picture point of view, platinum needs additional positive catalysts to settle above the psychologically important $1000 level.
If platinum settles below $975, it will head towards the 50 MA at $955. A move below the 50 MA will push platinum towards the support at $935 – $940.
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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