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Key Insights
- Gold moved back above the $1920 level.
- Silver gained ground as gold/silver ratio declined.
- Platinum continued to rebound from multi-month lows.
Gold
Gold gained some ground as the rebound continued. Today’s trading session is calm as traders are not ready for big moves ahead of tomorrow’s holiday in the U.S.
Gold needs to settle back above the resistance in the $1935 – $1940 range to have a chance to gain sustainable upside momentum. If gold moves above the $1940 level, it will head towards the next resistance in the $1975 – $1985 range.
Silver
Silver moved higher as gold/silver ratio pulled back below the 84 level.
In case silver climbs above the resistance in the $23.05 – $23.20 range, it will head towards the next resistance level, which is located in the $24.00 – $24.20 range.
Platinum
Platinum moved above the $910 level amid a broad rebound in precious metals markets.
The nearest resistance for platinum is located in the $930 – $935 range. A move above $935 will open the way to the test of the resistance at $965 – $975.
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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