Gold, Silver, Platinum – Gold Rebounds As U.S. Dollar Declines

Key Insights

• Gold settled back above the $1915 level. 
• Silver made an attempt to settle above $22.80.
• Platinum rebounded above the $900 level. 

Gold

Gold rebounded above the $1915 level as U.S. dollar pulled back after the release of the PCE Price Index report.

In case gold settles above $1915, it will head towards the next resistance level, which is located in the $1935 – $1940 area.

Silver

Silver has also moved higher as traders focused on the weakness of the American currency.

A move above the $22.85 level will push silver towards the next resistance in the $23.05 – $23.20 area.

Platinum

Platinum moved above the $900 level amid a broad rebound in precious metals markets.

RSI remains in the oversold territory, so platinum has a decent chance to gain additional upside momentum in case the U.S. dollar remains under pressure.

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