Gold pulls back as traders focus on stronger dollar and rising Treasury yields. From a big picture point of view, traders are worried about hawkish Fed.
In case gold settles below the 50 MA at $2321, it will get to the test of the nearest support at $2295 – $2305.
Silver
Silver 290524 Daily Chart
Silver markets stay strong as gold/silver ratio tests new lows. Currently, gold/silver ratio is trying to settle below the 73 level.
In case silver climbs above the recent highs at $32.50, it will move towards the resistance at $33.50 – $34.00.
Platinum
Platinum 290524 Daily Chart
Platinum is under pressure as traders use the recent rebound as an opportunity to take some profits off the table near multi-month highs.
If platinum settles below the $1040 level, it will move towards the support at $1010 – $1020.
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Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.