Gold, Silver, Platinum – Gold Remains Stuck Near The $1960 Level

Key Insights

• Gold is mostly flat despite rising Treasury yields. 
• Silver tested new highs near the $25.00 level. 
• Platinum continued its attempts to settle above the resistance at $965 – $975.

Gold

Gold continues its attempts to settle above the $1960 level despite the rebound in Treasury yields. Stronger dollar did not put any pressure on gold markets.

If gold settles above the $1960 level, it will head towards the resistance at $1975 – $1985. On the support side, a move below the 50 MA will open the way to the test of the support at $1935 – $1940.

Silver

Silver tested new highs as the rally continued. Gold/silver ratio declined below 78.50, which was bullish for silver.

Silver moved above the $24.80 level and is trying to settle above $25.00. If this attempt is successful, silver will head towards the resistance at $25.25 – $25.50.

Platinum

Platinum is trying to settle above the resistance at $965 – $975 as traders bet that demand for the metal would grow.

RSI remains in the moderate territory, so platinum has a decent chance to gain upside momentum and move towards the resistance at $1000 – $1010.

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