On Monday, we can observe a rebound of precious metals, which can be explained by a correction of the dollar. Gold broke above the major resistance zone at $ 1795 and is trading above $ 1800. Silver is gaining more than 2.5% and platinum added 1.7%. Nevertheless, the true winner of today's session is palladium, which is gaining over 6%.
From a technical point of view, the price returned above the key support level at $ 2,320. This level is marked with the lower limit of the local downward channel as well as a wide 1: 1 correction (purple rectangles). Moreover, the recent downward move resembles a simple ABC correction.
Palladium, D1 interval. Source: xStation5
Daily Summary: End of the week in the red, tech rally waning
🔝Silver Jumps 10% Weekly, up 120% YTD
Chart of the day - SILVER (12.12.2025)
Daily summary: SILVER at a new ATH, EURUSD at its highest since October