Gold, Silver, Platinum Forecasts – Gold Climbed Above $2660 As Treasury Yields Pulled Back

By:

Vladimir Zernov

Published: Oct 15, 2024, 18:05 GMT+00:00

Key Points:

Gold gains ground as traders stay bullish.
Silver tests resistance at $31.45 - $31.75.
Platinum pulled back amid worries about China's economy.

Gold

Gold 151024 Daily Chart

Gold is moving higher as traders focus on the pullback in Treasury yields. From a big picture point of view, market sentiment remains bullish amid geopolitical tensions.

If gold climbs above the resistance at $2675 – $2685, it will get to the test of the psychologically important $2700 level.

Silver

Silver 151024 Daily Chart

Silver continues its attempts to settle above the resistance at $31.45 – $31.75 as gold/silver ratio pulled back below the 84.50 level.

A move above the $31.75 level will push silver towards the recent highs near the $33.00 level.

Platinum

Platinum 151024 Daily Chart

Platinum pulled back as traders worried that China’s stimulus measures would not provide sufficient support to the economy.

If platinum declines below the $975 level, it will head towards the 50 MA at $958.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Vladimir Zernovauthor

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.