Gold, Silver, Platinum – Gold Pulls Back As Treasury Yields Rebound

Key Insights

• Gold tested the $1950 level. 
• Silver moved below the $23.00 level amid a broad pullback in precious metals markets. 
• Platinum remained stuck near the 50 EMA. 

Gold

Gold made an attempt to settle below the $1950 level as demand for safe-haven assets declined. First Citizens BancShares agreed to buy the troubled Silicon Valley Bank, and traders bet that the acute phase of the banking crisis was over. The strong rebound of Treasury yields served as an additional bearish catalyst for gold markets.

Silver

Silver declined below the $23.00 level amid a broad pullback in precious metals markets. In case silver manages to settle below $23.00, it will head towards the support level at $22.70.

Platinum

Platinum remains stuck near the 50 EMA at $980. The recent attempt to settle below this level was not successful, and it looks that platinum markets will need additional catalysts to move out of the recent trading range.

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