Gold moved towards the $2050 level as traders focused on weak dollar. Silver climbed back above the $24.00 level. Platinum moved towards multi-month highs.
Gold moves higher as U.S. dollar pulls back against a broad basket of currencies. Treasury yields are moving lower, providing additional support to gold markets.
In case gold manages to settle above the $2050 level, it will head towards the next resistance at $2065 – $2075.
Silver rebounds after the recent pullback. Gold/silver ratio declined below the 85 level, providing additional support to silver.
If silver settles above the recent highs at $24.29, it will head towards the next resistance at $25.00 – $25.30.
Platinum gains ground as market sentiment in precious metals markets remains bullish.
A move above the $970 level will open the way to the test of the resistance at $990 – $1000.
Source: fxempire