SLV

Gold, Silver, Platinum Forecasts – Gold Tests $2400 As Rally Continues

FXEmpire.com -

Gold

Gold 190424 Daily Chart

Gold made an attempt to settle above the $2400 level as demand remained strong amid rising geopolitical tensions.

In case gold settles above $2400, it will gain additional upside momentum and head towards the $2450 level.

Silver

Silver 190424 Daily Chart

Silver rallied as gold/silver ratio pulled back towards the 83.50 level. From a big picture point of view, it looks that gold/silver ratio stabilized below 85, which is bullish for silver.

A successful test of the nearest resistance at $28.70 – $28.90 will open the way to the test of the next resistance at $29.70 – $30.00.

Platinum

Platinum 190424 Daily Chart

Platinum tested new lows as the pullback continued. Demand worries serve as the key bearish catalyst for platinum markets.

A move below the $925 level will push platinum towards the support at $870 – $880.

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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