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Gold, Silver, Platinum – Precious Metals Rebound As Treasury Yields Pull Back

By:
Vladimir Zernov
Published: Mar 3, 2023, 16:34 GMT+00:00

U.S. dollar is losing ground against a broad basket of currencies, providing additional support to precious metals.

Gold
In this article:

Key Insights

  • Gold tests resistance at the 50 EMA.
  • Silver continues its attempts to settle above the $21.15 level. 
  • Platinum tests multi-week highs near the 50 EMA. 

Gold

Gold
Gold 030323 Daily Chart

Gold is currently trying to settle above the 50 EMA at $1845 as traders focus on the pullback in Treasury yields. In case gold manages to settle above the 50 EMA, it will gain additional upside momentum and move towards the next resistance level, which is located at $1865.

Silver

Silver
Silver 030323 Daily Chart

Silver continues its attempts to settle above the $21.15 level as precious metals rebound. A move above this level will provide silver with an opportunity to gain additional upside momentum.

Platinum

Platinum
Platinum 030323 Daily Chart

Platinum  is heading towards the resistance at the 50 EMA near the $980 level. A successful test of the 50 EMA will push platinum towards the psychologically important $1000 level.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.

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