Gold, Silver, Platinum – XAU/USD Dips As Treasury Yields Rise

Key Insights

• Gold faces significant pressure as 10-year Treasury yields surpass the 4.30% mark.
• Silver’s resilience is on display, rebounding as the gold/silver ratio approaches 83.
• Platinum teeters, clinging to the $890 mark, despite attempts to breach $900.

Gold

Gold remains under strong pressure as Treasury yields test new highs. The yield of 10-year Treasuries has recently managed to settle above the 4.30% level, while the yield of 2-year Treasuries settled near 5.00%.

Gold has already declined below the $1900 level and is heading towards the next support, which is located in the $1860 – $1870 range.

Silver

Silver rebounded from recent lows as gold/silver ratio pulled back towards the 83 level.

It remains to be seen whether this rebound will be sustainable as Treasury yields continue to move higher. A move below the $22.15 level will push silver towards the support at $21.50 – $21.70.

Platinum

Platinum remains stuck near the key $890 level after an unsuccessful attempt to settle back above $900.

Most likely, platinum will quickly move towards the support at $850 – $860 in case it manages to settle below the important support at $890.

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