Gold, Silver, Platinum – Silver Tests New Highs

Key Insights

• Gold continues its attempts to settle above the resistance at $1975 – $1985.
• Silver settled above the $25.00 level and is moving higher. 
• Platinum pulls back amid profit-taking.

Gold

Gold remains stuck near the resistance at $1975 – $1985. U.S. dollar’s rebound served as a negative catalyst for gold markets today.

If gold climbs above the $1985 level, it will move towards the next resistance in the $2015 – $2025 range.

Silver

Silver gains ground despite stronger dollar. Gold/silver ratio pulled back towards the 78.50 level, which was bullish for silver.

Silver has recently managed to settle above the previous resisance at $24.60 – $24.80. RSI is close to the overbought territory, but silver has a decent chance to move towards the next resistance at $25.90 – $26.15.

Platinum

Platinum pulls back as traders take some profits off the table after the strong rebound.

Platinum continues to trade above the support at $965 – $975, and the current pullback looks healthy after the recent rally.

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