Gold, Silver, Platinum – Gold Tested The $1900 Level

Key Insights

• Gold made an attempt to settle below the $1900 level but lost momentum and rebounded towards $1910.
• Silver pulled back as traders focused on rising Treasury yields. 
• Platinum tested new lows below the $900 level. 

Gold

Gold is trying to settle below the $1910 level as Treasury yields rise. However, it looks that rising demand for safe-haven assets provided some support to gold.

In case gold stays below the $1910 level, it will test the $1900 level again. A move below $1900 will push gold towards the support in the $1875 – $1885 range.

Silver

Silver is losing ground as traders focus on rising Treasury yields and the rebound of the U.S. dollar.

From the technical poit of view, silver failed to settle above $22.85, which is a bearish sign which shows that silver may test the support in the $22.00 – $22.20 range if Treasury yields move higher.

Platinum

Platinum tested new lows as the pullback continued amid demand worries.

RSI is in the oversold territory, but the current trend remains strong. In case platinum settles below the $900 level, it will head towards the next support in the $870 – $880 range.

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