Gold, Silver, Platinum Forecasts – Gold Attempts To Rebound As Traders Wait For Powell’s Comments -

Key Insights

  • Gold found support in the $1975 – $1985 range. 
  • Silver remained under pressure as gold/silver ratio tested new highs. 
  • Platinum pulled back after an unsuccessful attempt to settle above the strong resistance level.


Gold 131223 Daily Chart

Gold settled near the $1980 level as traders waited for Fed decision. Treasury yields are moving lower, providing some support to gold markets.

If gold manages to settle back above the $1985 level, it will head towards the resistance at $2015 – $2025.


Silver 131223 Daily Chart

Silver tests new lows as gold/silver ratio moved above the 87.50 level. In case gold/silver ratio settles above 88, it may gain additional upside momentum and move towards 90, which will be bearish for silver.

Silver is declining for 8th day in a row, but RSI remains in the moderate territory, so there is enough room to gain downside momentum.


Platinum 131223 Daily Chart

Platinum failed to settle above the resistance at $925 – $935 and pulled back.

Most likely, platinum will need strong catalysts to have a chance to settle above the $935 level.

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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