Gold, Silver, Platinum – Gold Declines As Dollar Rebounds From Weekly Lows -

Key Insights

  • Gold failed to settle above the resistance at $1980.
  • Silver moved above the $24.00 level. 
  • Platinum tested resistance at $1000.


Gold 310323 Daily Chart

Gold failed to settle above the resistance at $1980 and pulled back towards the $1975 level. Treasury yields are moving lower, which is bullish for gold. However, traders are focused on the rebound of the U.S. dollar, which serves as a bearish catalyst for gold markets.


Silver 310323 Daily Chart

Silver managed to climb above the $24.00 level and is trying to gain additional upside momentum. Traders should note that silver entered into the strong resistance area in the $24.00 – $24.50 range while RSI moved into the overbought territory. The risks of a pullback are increasing, and silver markets will need material catalysts to maintain the current trend.


Platinum 310323 Daily Chart

Platinum made an attempt to settle above the $1000 level as demand for precious metals remained strong. A successful test of the resistance at $1000 will push platinum towards the $1030 level.

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This article was originally posted on FX Empire


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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