FXEmpire.com -
Key Insights
- Gold declined below the $1970 level as Treasury yields moved higher.
- Silver settled below the $25.00 level.
- Platinum moved below the support at $965.
Gold
Gold pulls back as U.S. dollar continues to move higher. Rising Treasury yields put additional pressure on gold markets.
Gold failed to settle above the resistance at $1975 – $1985 and is moving lower. The nearest support level for gold is located in the $1935 – $1940 range.
Silver
Silver pulled back below the $25.00 level as traders decided to take some profits off the table amid a broad pullback in precious metals markets.
In case silver settles below the support at $24.60 – $24.80, it will move towards the next support level at $24.00 – $24.20.
Platinum
Platinum is currently trying to settle below the support at $965 – $975 as traders focus on stronger dollar and rising Treasury yields.
In case this attempt is successful, platinum will head towards the next support in the $925 – $935 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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