Gold
Gold surged past the $2350 threshold, buoyed by traders’ attention to Powell’s cautious remarks and declining Treasury yields. Powell’s indication of prolonged maintenance of current interest rates further propelled the precious metal’s ascent.
Should gold maintain its position above $2350, it is poised to progress towards the proximate resistance range between $2390 and $2400.
Silver
Silver sought to establish itself above the $28.75 mark while the gold/silver ratio retreated towards 82.50.
If silver manages to surpass the $29.00 threshold, it could unlock further upward momentum for the precious metal.
Platinum
Platinum’s upward trajectory persists, fueled by traders’ optimism regarding increased demand in China, bolstered by stimulus efforts.
Should platinum maintain its position above the resistance range between $1010 and $1020, it is likely to advance towards the subsequent resistance level spanning $1070 to $1080.
