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Gold gains some ground as traders focus on the pullback in Treasury yields. The U.S. dollar is mostly flat ahead of the weekend, and its dynamics have little impact on gold markets.
Gold needs to climb above the $1940 level to gain sustainable momentum. Meanwhile, gold remains stuck in the $1900 – $1940 range.
Silver continues to move higher as gold/silver ratio tests weekly lows. It should be noted that gold/silver ratio is far away from the lows that were reached back in late August, so silver has a decent chance to gain additional momentum.
If silver stays above the $23.50 level, it will move towards the resistance at $24.25 – $24.50.
Platinum
Platinum is also moving higher amid rising demand for precious metals.
If platinum settles above $935, it will head towards the resistance, which is located near August highs at $975 – $985.
For a look at all of today’s economic events, check out our economic calendar.
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