Gold, Silver, Platinum – Gold Rallied Towards The $2000 Level
Key Insights
- Gold moved towards the psychologically important $2000 level.
- Silver continues its attempts to settle above $23.00.
- Platinum remains stuck below the $1000 level.
Gold
Gold rallied towards the $2000 level as the U.S. dollar tested multi-week lows. The yield of 2-year Treasuries pulled back below the 3.90% level, which was also bullish for gold markets.
Silver
Silver continues its attempts to settle above the $23.00 level. RSI remains in the moderate territory, so there is plenty of room to gain upside momentum in the upcoming trading sessions. If silver settles above $23.00, it will move towards the resistance at $23.50.
Your capital is at risk
Platinum
Platinum is facing strong resistance near the psychologically important $1000 level. To continue its rebound, platinum needs to climb above $1000. If platinum failes to settle above the $1000 level, it will gain downside momentum and move below the 20 EMA at $975.
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