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key ideas

• Gold declined towards the $1985 level.
• Silver retreated from session highs amid profit taking.
• Platinum failed to settle below the 20 EMA.

Gold

Gold 240323 Daily Chart

Gold faced resistance near the $2000 level and pulled back as Treasury yields rebounded from session lows. The strength of the US dollar put additional pressure on gold markets.

Money

Silver 240323 Daily Chart

Silver pulled back from session highs as traders took profits off the table after the strong rally. The gold/silver ratio is currently testing the 50 EMA at 85.35. A move below this level will provide additional support for silver.

Platinum

Platinum 240323 Daily Chart

Platinum attempted to settle below the 20 EMA but failed to build sufficient downward momentum and bounced back above the $980 level. From a global perspective, platinum remains stuck in a tight range below the important $1000 level.

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This article originally appeared on FX Empire

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