SLV

Gold, Silver, Platinum Forecasts – Gold Retreats As Treasury Yields Rise

FXEmpire.com -

Gold

Gold 260224 Daily Chart

Gold is losing ground as traders focus on rising Treasury yields. U.S. dollar’s pullback did not provide any support to gold markets today.

From the technical point of view, gold needs to stay above the $2015 – $2025 level to have a chance to gain sustainable upside momentum in the near term.

Silver

Silver 260224 Daily Chart

Silver is under strong pressure as gold/silver ratio climbed back above the psychologically important 90 level.

A move below the support at $22.25 – $22.50 will open the way to the test of the support at $21.55 – $21.75.

Platinum

Platinum 260224 Daily Chart

Platinum  is losing ground amid a broad pullback in precious metals markets.

In case platinum settles below the support at $880 – $890, it will move towards the next support level, which is located near November lows 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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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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