Gold, Silver, Platinum – Precious Metals Gain Ground As Demand For Safe-Haven Assets Grows

Key Insights

• Gold is trying to settle above the $1830 level.
• Silver is testing the resistance at $20.90.
• Platinum rallied towards the resistance at the 20 EMA.

Gold

Gold rebounded towards the $1830 level amid rising demand for precious metals. The U.S. dollar was mostly flat against a broad basket of currencies, while Treasury yields moved higher in today’s trading session. However, gold managed to gain upside momentum, which indicates that demand for safe-haven assets is rising.

Silver

Silver is currently trying to settle above the resistance at $20.90. RSI moved back into the moderate territory, but there is plenty of room to gain additional upside momentum in case the right catalysts emerge. If silver settles above $20.90, it will head towards the next resistance level at $21.15.

Platinum

Platinum is testing the 20 EMA at $955 as traders focus on the broad rebound in commodity markets. If platinum settles above this level, it will move towards the resistance at the 50 EMA at $985.

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