SLV

Gold, Silver, Platinum Forecasts – Gold Tests Resistance At $2025

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Gold

Gold 200224 Daily Chart

Gold gains ground as traders focus on U.S. dollar’s pullback and falling Treasury yields.

Currently, gold is trying to settle above the resistance at $2015 – $2025. In case this attempt is successful, it will head towards the next resistance at $2065 – $2075.

Silver

Silver 200224 Daily Chart

Silver managed to stay above the $23.00 level as gold/silver ratio settled near 88. In case gold/silver ratio climbs above the 88 level, it will head towards 90, which would be bearish for silver.

A move below the $23.00 level will push silver back towards the strong support in the $22.25 – $22.50 range.

Platinum

Platinum 200224 Daily Chart

Platinum tested new highs as traders focused on the rally in palladium markets, which moved towards the psychologically important $1000 level.

From the technical point of view, platinum is heading towards the nearest resistance at $925 – $935.

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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