Gold pulls back as traders focus on the rebound in Treasury yields. It looks that gold needs additional positive catalysts to settle above the $2000 level.
From the technical point of view, gold remains stuck near the support at $1975 – $1985. A move below $1975 will push gold towards the support at $1940 – $1950.
Silver is moving lower as traders wait for additional catalysts that could push it out of the current trading range.
In case silver manages to settle above the resistance at $23.40 – $23.60, it will head towards the next resistance level, which is located in the $25.00 – $25.30 range.
Platinum
Platinum is losing ground amid a broad pullback in precious metals markets.
Platinum did not manage to settle above the resistance at $925 – $935. In case platinum moves below the 50 MA at $910, it will head towards the support at $880 – $890.
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Read More: Gold, Silver, Platinum Forecasts – Gold Pulls Back As Treasury Yields Rebound