Gold, Silver, Platinum Forecasts – Gold Pulls Back As Treasury Yields Rebound

Key Insights

• Gold declined towards the support at $1975 – $1985.
• Silver pulled back towards the $23.00 level. 
• Platinum is trying to settle below the 50 MA at $910.

Gold

Gold pulls back as traders focus on the rebound in Treasury yields. It looks that gold needs additional positive catalysts to settle above the $2000 level.

From the technical point of view, gold remains stuck near the support at $1975 – $1985. A move below $1975 will push gold towards the support at $1940 – $1950.

Silver

Silver is moving lower as traders wait for additional catalysts that could push it out of the current trading range.

In case silver manages to settle above the resistance at $23.40 – $23.60, it will head towards the next resistance level, which is located in the $25.00 – $25.30 range.

Platinum

Platinum is losing ground amid a broad pullback in precious metals markets.

Platinum did not manage to settle above the resistance at $925 – $935. In case platinum moves below the 50 MA at $910, it will head towards the support at $880 – $890.

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