Key Insights
- Gold moved towards the $1975 level.
- Silver failed to settle above $23.00 as gold/silver ratio rebounded towards 86.
- Platinum gained ground as traders focused on U.S. dollar’s pullback.
Gold
Gold gains ground as demand for safe-haven assets stays strong amid rising geopolitical tensions.
In case gold settles above the resistance at $1975 – $1985, it will move towards the next resistance level at $2015 – $2025.
Silver
Silver continues to trade below the $23.00 level as gold/silver ratio climbed above the 86 level.
If silver settles above $23.00, it will head towards the next resistance in the $23.40 – $23.60 range.
Platinum
Platinum rebounds after yesterday’s pullback. U.S. dollar is losing ground against a broad basket of currencies despite Powell’s hawkish comments, providing additional support to platinum.
A move above the $900 level will open the way to the test of the resistance at $925 – $935.
For a look at all of today’s economic events, check out our economic calendar.
