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 130223 Daily Chart
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 130223 Daily Chart
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 130223 Daily Chart
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.
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Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.
