Gold, Silver, Platinum – Silver Rebounds As Gold/Silver Ratio Drops Below 85

Key Insights

• Gold remains stuck in the $1910 – $1935 range. 
• Silver rebounded towards the $22.80 level. 
• Platinum moved higher amid profit-taking. 

Gold

Gold gains some ground as U.S. dollar moves lower against a broad basket of currencies.

At this point, gold is stuck in the $1910 – $1935 range, which is a disappointing development for the bulls as gold failed to climb back into the previous $1935 – $1985 range.

Silver

Silver continues to rebound as gold/silver ratio moved below the 85 level. Weaker dollar provides additional support to silver.

In case silver settles above $22.85, it will head towards the next resistance area in the $23.05 – $23.20 range.

Platinum

Platinum gained some ground after the multi-day pullback amid a broad rebound in precious metals markets.

At this point, the move looks like a technical pullback. Platinum needs to settle above $935 to have a chance to gain sustainable momentum.

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