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key ideas

• Gold failed to settle above the resistance at $1980.
• The silver broke above the $24.00 level.
• $1000 platinum tested resistor.

Gold

Gold 310323 Daily Chart

Gold failed to settle above the resistance at $1980 and retreated towards the $1975 level. Treasury yields are down, which is bullish for gold. However, traders are focusing on the rebound in the US Dollar, which serves as a bearish catalyst for gold markets.

Money

Silver 310323 Daily Chart

Silver managed to climb above the $24.00 level and is trying to gain further upward momentum. Traders should note that silver entered the strong resistance zone in the $24.00-$24.50 range while the RSI entered the overbought territory. The risks of a pullback are increasing and silver markets will need material catalysts to sustain the current trend.

Platinum

Platinum 310323 Daily Chart

Platinum attempted to settle above the $1,000 level as demand for precious metals remained strong. A successful test of the resistance at $1000 will push platinum towards the $1030 level.

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This article originally appeared on FX Empire

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