SLV

Gold, Silver, Platinum Forecasts – Gold Rebounds After Pullback

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Key Insights

  • Gold moved back above the $2025 level. 
  • Silver declined below $24.00 as gold/silver ratio settled above 84.50.
  • Platinum tested support at $880 – $890.

Gold

Gold 061223 Daily Chart

Gold rebounds as traders focus on the pullback in Treasury yields. The U.S. dollar is flat against a broad basket of currencies, which is mostly bullish for gold markets.

In case gold manages to settle above the $2025 level, it will move towards the next resistance at $2055 – $2065.

Silver

Silver 061223 Daily Chart

Silver tested new lows as gold/silver ratio rebounded above the 84.50 level. The strong rebound of gold/silver ratio in recent trading sessions served as the key bearish catalyst for silver markets.

From the technical point of view, silver has recently moved below the $24.00 level and is heading towards the support at $23.40 – $23.60.

Platinum

Platinum 061223 Daily Chart

Platinum is losing ground as the pullback conitnues. Currently, platinum is trying to settle below the support at $880 – $890.

In case this attempt is successful, platinum will head towards the next support level, which is located in the $840 – $850 range.

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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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