Advertisement
Advertisement
Gold, Silver, Platinum Forecasts – Gold Stays Strong Despite Rising Treasury Yields
By:
Key Points:
- Gold managed to stay above the $2150 level as traders ignored rising yields and stronger dollar.
- Silver pulled back as gold/silver ratio rebounded from recent lows.
- Platinum is trying to settle below the support at $925 - $935.
Gold
Gold gains some ground despite rising Treasury yields. Demand for gold stays strong as central banks continue to buy gold for reserves.
If gold stays above the $2150 level, it will head towards the resistance at $2190 – $2200.
Silver
Silver pulled back towards the $25.00 level as gold/silver ratio rebounded above the 86 level.
RSI remains in the moderate territory, so there is plenty of room to gain additional upside momentum in case the right catalysts emerge.
Platinum
Platinum is under pressure as traders focus on the strong sell-off in palladium markets, which are down by 4.1%. Interestingly, the better-than-expected economic data from China did not provide any support to platinum and palladium.
In case platinum settles below the $925 level, it will head towards the nearest support, which is located in the $880 – $890 range.
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.
Did you find this article useful?
Latest news and analysis
Advertisement