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Gold, Silver, Platinum Forecasts – Gold Retreats As Traders Focus On Rising Treasury Yields
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Silver and platinum have found themselves under strong pressure amid a broad pullback in precious metals markets.
Key Insights
- Gold pulled back towards the $1915 level.
- Silver settled below the 200 MA.
- Platinum moved towards the $915 level.
Gold
Gold is losing ground as U.S. dollar tests new highs. Rising Treasury yields put additional pressure on gold markets.
It should be noted that the pullback is not strong, and gold remains stuck in the $1900 – $1910 range.
Silver
Silver is under strong pressure as gold/silver ratio rebounded towards the 83 level.
From the technical point of view, silver quickly moved back below the 200 MA near the $23.50 level, which was a disappointing development for the bulls.
Platinum
Platinum retreats amid a broad pullback in precious metals markets, which was triggered by the strong dollar.
From the technical point of view, platinum settled back below the $925 level and is moving towards the support at $880 – $890.
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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