Gold, Silver, Platinum – Gold Pulls Back As Treasury Yields Rise

NEW YORK (April 27) Gold pulled back towards the $1980 level as Treasury yields continued to rebound. The U.S. dollar moved higher against a broad basket of currencies, putting additional pressure on gold markets.

In case gold manages to settle below the $1980 level, it will move towards the support at $1960. On the upside, a move above the resistance at $2000 will push gold towards the resistance at $2010.

Silver

Silver tested support at $24.65 but failed to develop sufficient downside momentum. Stronger dollar and rising Treasury yields put pressure on silver.

The nearest resistance level for silver is located at $25.00. If silver gets above this level, it will move towards the next resistance level at $25.30. On the support side, a successful test of the $24.65 level will push silver towards the support at $24.35.

Platinum

Platinum declined below the $1100 level amid a broad pullback in precious metals markets.

If platinum settles below the nearest support at $1080, it will head towards the next support level at $1065. A move below this level will open the way to the test of the support at $1050.

FXEmpire