Gold, Silver, Platinum – Precious Metals Rebound As Treasury Yields Pull Back
U.S. dollar is losing ground against a broad basket of currencies, providing additional support to precious metals.
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Key Insights
- Gold tests resistance at the 50 EMA.
- Silver continues its attempts to settle above the $21.15 level.
- Platinum tests multi-week highs near the 50 EMA.
Gold
Gold is currently trying to settle above the 50 EMA at $1845 as traders focus on the pullback in Treasury yields. In case gold manages to settle above the 50 EMA, it will gain additional upside momentum and move towards the next resistance level, which is located at $1865.
Silver
Silver continues its attempts to settle above the $21.15 level as precious metals rebound. A move above this level will provide silver with an opportunity to gain additional upside momentum.
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Platinum
Platinum is heading towards the resistance at the 50 EMA near the $980 level. A successful test of the 50 EMA will push platinum towards the psychologically important $1000 level.
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