Gold, Silver, Platinum Forecasts – Gold Is Mostly Flat Despite Rising Treasury Yields
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Key Insights
- Gold is trading near the $2025 level amid rising demand for precious metals.
- Silver managed to move above the $22.25 level as gold/silver ratio pulled back.
- Platinum failed to settle back above the $900 level.
Gold
Gold remains stuck near the $2025 level as traders wait for catalysts. Rising Treasury yields and stronger dollar did not put material pressure on gold markets in today’s trading session.
From the technical point of view, gold needs to climb above the $2040 level to gain additional upside momentum.
Silver
Silver rebounds after yesterday’s sell-off as gold/silver ratio pulled back below the 91 level.
In case silver settles back above $22.50, it will gain additional upside momentum and move towards the $23.00 level.
Platinum
Platinum made an attempt to settle above the $900 level but lost momentum and pulled back.
The nearest support level for platinum is located in the $880 – $890 range. A move below $880 will push platinum towards the support at $840 – $850.
For a look at all of today’s economic events, check out our economic calendar.
This article was originally posted on FX Empire
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