Gold Prices Decline Amid Strong US Dollar and Rising Treasury Yields
Gold prices remain under pressure as traders react to the strength of the US dollar and rising Treasury yields. The bullish momentum of the greenback has weighed heavily on precious metals, pushing gold towards key support levels.
If gold breaks below the critical support range of $2995 – $3005, the next downside target could be $2930 – $2940. Investors continue to monitor the Federal Reserve’s monetary policy stance and economic indicators, which may further influence gold’s price trajectory.
Silver Prices Face Selling Pressure as Gold Retreats
Silver prices are struggling to hold above the $32.75 – $33.00 support zone as the broader precious metals market weakens. If silver falls below $32.75, it could extend losses towards the next key support area at $31.45 – $31.75.
The strong US dollar and shifting investor sentiment have increased volatility in silver markets, with traders closely watching upcoming economic data releases for further direction.
Platinum Hits New Lows Amid Demand Concerns
Platinum continues to experience a sharp pullback, testing fresh lows due to ongoing concerns over industrial demand. If platinum fails to hold above the $960 support level, it could decline further, targeting the next major support range at $930 – $935.
Economic indicators, global demand trends, and central bank policies will play a crucial role in shaping platinum’s price action in the coming sessions.
Market Outlook and Key Economic Events
Precious metals traders should keep a close eye on upcoming economic reports, Federal Reserve statements, and inflation data, all of which could impact gold, silver, and platinum prices.
For real-time updates on market trends and a detailed analysis of today’s economic events, check out our economic calendar.
