Gold Tests The $2050 Level As Treasury Yields Pull Back

(February 29, 2024 - Vladimir Zernov)

Key Points:

• Gold managed to move out of the recent trading range and tested new highs at $2050.
• Silver climbed back above the $22.50 level.
• Platinum remained stuck near the key support at $880.

Gold

Gold 290224 Daily Chart

Gold is moving higher as traders focus on the pullback in Treasury yields.

From the technical point of view, gold markets managed to move higher after a period of consolidation, which is a bullish sign. A move above the $2050 level will open the way to the test of the resistance at $2065 – $2075.