Gold, Silver, Platinum Forecasts – Gold Gains Ground As Dollar Pulls Back
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Gold
Gold 290424 Daily Chart
Gold gains some ground as traders focus on the upcoming Fed Interest Rate Decision, which will be released on Wednesday. U.S. dollar’s pullback and falling Treasury yields provide additional support to gold markets.
In case gold climbs above the $2350 level, it will head towards the resistance at $2390 – $2400.
Silver
Silver 290424 Daily Chart
Silver is moving higher as gold/silver ratio stabilized near the $27.50 level. From a big picture point of view, silver stays range-bound.
The nearest resistance level for silver is located in the $27.75 – $28.00 range. A move above $28.00 will push silver towards the next resistance at $28.70 – $28.90.
Platinum
Platinum 290424 Daily Chart
Platinum rallies after the successful test of the resistance at $925 – $935. RSI remains in the moderate territory, so there is plenty of room to gain additional momentum.
If platinum settles above the $950 level, it will head towards the resistance at $975 – $985.
For a look at all of today’s economic events, check out our economic calendar.
This article was originally posted on FX Empire
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