Gold, Silver, Platinum – Silver Rebounds After Pullback

Key Insights

• Gold settled near the $1960 level. 
• Silver moved back above the $24.50 level. 
• Platinum is trying to climb above the 50 MA at $980.

Gold

Gold continues to trade near the $1960 level as traders wait for tomorrow’s Fed Interest Rate decision.

Gold has found some support above $1950, but its near-term dynamics will depend on Fed’s comments.

Silver

Silver rebounds after yesterday’s pullback as traders focus on rising demand for precious metals.

In case silver manages to settle back above the resistance in the $24.60 – $24.80 range, it will move towards the next resistance level, which is located at $25.90 – $26.15.

Platinum

Platinum received support in the $965 – $975 range and is trying to gain additional upside momentum.

If platinum climbs above the 50 MA at $980, it will move towards the resistance in the $1015 – $1030 range.

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