Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats As Dollar Rallies After NFP Report

Silver and platinum managed to gain some ground in today’s trading session despite strong dollar.

Gold Pulls Back As Traders Focus On Non Farm Payrolls Report Gold 061126 Daily Chart Gold is losing ground as U. S. dollar rallies after strong Non Farm Payrolls report.

The job market is in decent shape, while inflation remains far away from the central bank’s 2% target.

The yield of 2-year Treasuries moved above the 4.51% level, while the yield of 10-year Treasuries settled above 4.85%.

Interestingly, the yield of 30-year Treasuries declined to 5.25% as traders bet that hawkish Fed will keep prices under control in the long term.

In case gold manages to settle below the psychologically important $4000 level, it will head towards the next support at $3890 – $3910.

Silver Moves Higher As Gold/Silver Ratio Drops To 78Silver 061126 Daily Chart Silver managed to gain some ground as gold/silver ratio declined below the 78.00 level.

In case silver climbs above $55.00, it will head towards the resistance at $56.00 – $57.00.

On the support side, a move below the psychologically important $50.00 level will push silver towards the support at $47.00 – $48.00.

Platinum Tests New Highs As Rebound Continues Platinum 061126 Daily Chart Platinum is moving higher as traders ignore strong dollar and rising Treasury yields.

From FXEmpire