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Key Insights
- Gold settled above the $1910 level.
- Silver stabilized in a tight range as traders waited for new catalysts.
- Platinum continued to rebound from recent lows.
Gold
Gold is trading near the support level at $1900 – $1910 as gold bulls ignore stronger U.S. dollar and rising Treasury yields.
In case gold settles below the $1900 level, it will move towards the next support at $1860 – $1870.
Silver
Silver is trying to stabilize after the recent pullback. Gold/silver ratio has stabilized near the 84.50 level, which may be a good sign for the bulls.
The nearest resistance level for silver is located in the $23.00 – $23.25 range. A move above $23.25 will push silver towards the resistance at $24.00 – $24.20.
Platinum
Platinum continues to rebound from recent lows. Palladium is also moving higher in today’s trading session, providing additional support to platinum markets.
From the technical point of view, platinum is trying to stabilize in a range between the support at $890 and the resistance at $935.
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.
