SLV

Gold, Silver, Platinum Forecasts – Gold Stays Flat As Traders Wait For Catalysts

FXEmpire.com -

Gold

Gold 210224 Daily Chart

Gold is trying to settle above the resistance at $2025 as traders wait for the release of FOMC Minutes, which will likely have a material impact on precious metals markets.

A successful test of the resistance at $2015 – $2025 will push gold towards the next resistance level at $2065 – $2075.

Silver

Silver 210224 Daily Chart

Silver is losing ground as gold/silver ratio climbed above the 88.50 level. The volatility of gold/silver ratio remains the key driver for silver.

If silver stays below the $23.00 level, it will head towards the strong support in the $22.25 – $22.50 range.

Platinum

Platinum 210224 Daily Chart

Platinum tests support at $880 – $890 as traders focus on the strong sell-off in palladium markets.

A move below the $880 level will open the way to the test of the next 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

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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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