Gold, Silver, Platinum – Gold Gains 1.1% Amid Rising Demand For Precious Metals

Key Insights

• Gold tests resistance in the $1975 – $1985 range. 
• Silver continues its attempts to settle above the $25.00 level. 
• Platinum is moving towards the $1000 level amid a broad rally in precious metals markets. 

Gold

Gold rallied as traders focused on the pullback in Treasury yields. Stronger dollar did not put any pressure on gold markets.

In case gold settles above the resistance in the $1975 – $1985 range, it will head towards the next resistance level at $2015 – $2025.

Silver

Silver is trying to climb above the $25.00 level amid rising demand for precious metals

In case silver settles above $25.00, it will gain additional upside momentum and move towards the next resistance in the $25.90 – $26.15 range.

Platinum

Platinum is moving higher as the strong rebound from June lows continues.

RSI remains in the moderate territory, so there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

For a look at all of today’s economic events, check out our economic calendar.