Gold, Silver, Platinum – Precious Metals Retreat As China’s Imports Fall Faster Than Expected

Gold retreats as traders focus on stronger dollar. Near-term Treasury yields are moving higher, while longer-term yields decline. Demand for safe-haven assets increased after Moody’s downgraded U.S. banks, but it did not provide support to gold markets.

In case gold stays below the $1935 level, it will gain additional downside momentum and move toward the support in the $1900 – $1910 range.

Silver has found itself under strong pressure as gold/silver ratio tested new highs above the 84.50 level.

If silver settles below the $23.00 level, it will head towards the support at $22.15 – $22.35.