Gold, Silver, Platinum Forecasts – Gold Prices Continue To Consolidate -


Gold 280224 Daily Chart

Gold stays above the $2030 level, supported by falling Treasury yields. The broad pullback in precious metals markets did not put any pressure on gold in today’s trading session.

In case gold settles above $2040, it will head towards the resistance at $2065 – $2075.


Silver 280224 Daily Chart

Silver tested new lows as gold/silver ratio climbed above the 90.50 level. Rising gold/silver ratio is the main driver for silver’s weakness.

A successful test of the support at $22.25 – $22.50 will push silver towards the next support level at $21.55 – $21.75.


Platinum 280224 Daily Chart

Platinum retreats as traders focus on the strong pullback in palladium markets. From a big picture point of view, platinum markets stay volatile in absence of strong catalysts.

A move below the $880 level opens the way to the test of the support at $840 – $850.

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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