Gold, Silver, Platinum – Precious Metals Attempt To Rebound After Sell-Off

Key Insights

• Gold made an attempt to settle above the $1820 level. 
• Silver settled near the psychologically important $20.00 level. 
• Platinum found support near $930 and rebounded towards the $950 level. 

Gold

Gold is trying to rebound after yesterday’s sell-off. The U.S. dollar is mostly flat against a broad basket of currencies, which provides some support to gold markets. If gold manages to settle above the $1820 level, it will move towards the 20 EMA near the $1840 level.

Silver

Silver continues its attempts to settle below the $20.00 level. Industrial demand is an important component of the total demand for silver, and traders fear the Fed’s aggressive policy will put too much pressure on the economy and reduce silver demand.

Platinum

Platinum managed to gain some upside momentum after yesteday’s sell-off. In case platinum gets back above the $950 level, it will move towards the resistance at the 20 EMA at $955.

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