Blog: Trading

Gold, Silver, Platinum – Precious Metals Decline As Treasury Yields Rise

Feb 15, 2023

Key Findings

As a result of traders' reactions to the higher-than-anticipated U.S. inflation statistics, gold was able to drop below the $1850 mark.

The $21.65 level of support is being tested by silver.

In the midst of a significant decline in precious metals markets, platinum tested new lows.

Platinum Update

Platinum $925.70 -7.2625 (-0.78%) experienced significant pressure and tested new lows. Although the RSI is almost in oversold territory, further downward momentum is still possible if Treasury yields rise further.

Source: FX Empire Trading View

Siver Update

$21.483 Silver -0.3812 (-1.74%)

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The market is currently attempting to settle below the $21.65 mark, with 77% of retail CFD accounts losing money. After the inflation numbers were released, silver markets became erratic. Currently, it appears that traders are willing to wager on a Fed that is more hawkish, which is bad news for silver and other precious metals.

Source: Trading View FX Empire

Gold Update

Gold \s$1,834.44 \s-20.575 (-1.11%)

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As a result of the announcement of the U.S. inflation data, Treasury rates increased, causing 77% of retail CFD accounts to lose money to slip below the $1850 mark. Analyst forecasts were exceeded for the Inflation Rate and Core Inflation Rate, which was negative for the gold markets.