Gold, Silver, Platinum – Gold Pulls Back As Dollar Rebounds
Key Insights
- Gold is trying to settle below the $1965 level.
- Silver is heading towards the resistance at $23.50.
- Platinum remains stuck in the $950 – $1000 range.
Gold
Gold pulled back towards the $1965 level as U.S. dollar moved higher against a broad basket of currencies. From a big picture point of view, gold continues to face material resistance below the psychologically important $2000 level.
Silver
Silver is moving towards the resistance at the $23.50 level. RSI is close to the overbought territory, but there is enough room to gain additional momentum in case the right catalysts emerge. If silver settles above $23.50, it will head towards the $24.00 level.
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Platinum
Platinum rebounds after yesterday’s pullback, although it continues to trade belwo the 20 EMA. At this point, it looks that platinum will need additional catalysts to get out of the $950 – $1000 range.
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