Gold, Silver, Platinum – Precious Metals Rally As Treasury Yields Plunge

Key Insights

• Gold managed to settle above the $1900 level. 
• Silver rallied towards the 50 EMA at $21.85.
• Platinum tested the psychologically important $1000 level. 

Gold

Gold rallied as Treasury yields plunged amid problems in the U.S. regional banks sector. The outlook for Fed policy has significantly shifted in recent days, and traders expect that the central bank will raise the rate by just 25 bps at the next meeting. Falling yields are bullish for gold that pays no interest.

Silver

Silver rallied 6% as traders rushed to buy precious metals amid falling Treasury yields. The yield of 10-year Treasuries declined below the 3.50% level, while the yield of 2-year Treasuries settled near 4.00%. If yields continue to move lower, silver could get more support.

Platinum

Platinum  is trying to settle above the $1000 level amid a strong rebound in the precious metals sector. If platinum settles above $1000, it will head towards the next resistance level, which is located at $1025.

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