Gold, Silver, Platinum – Gold Markets Pulled Back From Session Highs
Key Insights
- Gold attempts to settle above the $1875 level.
- Silver managed to gain upside momentum and tests the $22.50 level.
- Platinum is trading near the important support at $970.
Gold
Gold continues its attempts to settle above the $1875 level. The U.S. dollar is swinging between gains and losses, so gold has a chance to gain additional upside momentum. However, the recent comments from Fed’s Williams, who sees the peak rate in the 5%-5.25% range, may put some pressure on gold markets.
Silver
Silver is currently trying to settle above the $22.50 level. This level has already been tested several times and proved its strength. If silver climbs above $22.50, it will have a good chance to gain additional upside momentum.
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Platinum
Platinum failed to test the $1000 level and pulled back towards the support level at $970. This support level is important for platinum as the metal found significant support in this area in November and December. A move below the $970 level may lead to a sell-off.
For a look at all of today’s economic events, check out our economic calendar.