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


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 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 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


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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