SLV

Gold, Silver, Platinum Forecasts – Gold Tests New Highs As Rally Continues

FXEmpire.com -

Gold

Gold 020424 Daily Chart

Gold tested new highs despite rising Treasury yields. Demand for safe-haven assets increased as U.S. stock indices pulled back from recent highs.

The bullish trend is strong. However, RSI remains in the overbought territory, so the risks of a pullback are increasing.

Silver

Silver 020424 Daily Chart

Silver rallied as gold/silver ratio pulled back towards 87.60. Currently, silver is trying to settle above the key resistance at $25.75 – $26.00.

A move above $26.00 will signal that silver is ready to gain sustainable upside momentum.

Platinum

Platinum 020424 Daily Chart

Platinum gained ground amid a broad rally in commodity markets. U.S. dollar’s pullback provided additional support to platinum.

If platinum settles above the resistance at $925 – $935, it will head towards the next resistance level 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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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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