FXEmpire.com -
Key Insights
- Gold is trying to settle above the $2050 level.
- Silver retreats as gold/silver ratio climbed towards the 89 level.
- Platinum continues its attempts to settle above the resistance at $925 – $935.
Gold
Gold gains ground as U.S. dollar pulls back after the release of ADP Employment Change report, which missed analyst expectations by a wide margin.
In case gold settles above the $2050 level, it will head towards the next resistance at $2065 – $2075.
Silver
Silver is losing ground as gold/silver ratio moved back towards the 89.00 level.
In case silver declines below $23.00, it will head towards the nearest support at $22.25 – $22.50.
Platinum
Platinum gains ground, supported by falling Treasury yields and weaker dollar.
If platinum climbs above the resistance at $925 – $935, it will head towards the next resistance level at $990 – $1000.
For a look at all of today’s economic events, check out our economic calendar.
This article was originally posted on FX Empire
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