Gold, Silver, Platinum Forecasts – Gold Tests New Highs As Treasury Yields Pull Back
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Gold
Gold 230224 Daily Chart
Gold gains ground as traders focus on the pullback in Treasury yields. Falling Treasury yields serve as a bullish catalyst for precious metals that pay no interest.
In case gold manages to stay above the $2025 level, it will move towards the nearest resistance at $2065 – $2075.
Silver
Silver 230224 Daily Chart
Silver rebounded towards the $23.00 level as gold/silver ratio pulled back below the 89 level after an unsuccessful attempt to settle above 89.50.
A move above the $23.00 level will push silver towards the resistance at $23.40 – $23.60.
Platinum
Platinum 230224 Daily Chart
Platinum settled back above the $900 level amid a broad rally in precious metals markets.
From the technical point of view, platinum is moving towards the resistance at $925 – $935.
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This article was originally posted on FX Empire
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