Gold, Silver, Platinum – Gold Retreats As Demand For Safe-Haven Assets Declines

Key Insights

• Gold is testing the 50 EMA as the pullback continues. 
• Silver managed to get below the $22.00 level. 
• Platinum rebounds after the recent sell-off. 

Gold

Gold is currently trying to settle below the 50 EMA at $1855 despite weaker dollar and lower Treasury yields. S&P 500 and NASDAQ gained strong upside momentum in today’s trading session. Thus, demand for safe-haven assets declined, which was bearish for gold markets .

Silver

Silver is also trying to settle below the recent lows. In case this attempt is successful, silver will have a good chance to gain additional downside momentum.

Platinum

Platinum found support near the $935 level and climbed back above $955. It should be noted that the downside trend remains intact, and platinum markets will need additional positive catalysts to develop sustainable upside momentum.

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