Gold, Silver, Platinum Forecasts – Gold Dives As Dollar Tests New Highs

By:

Vladimir Zernov

Published: Jan 13, 2025, 17:35 GMT+00:00

Key Points:

Gold is moving towards the $2650 level as traders focus on strong dollar and rising Treasury yields.
Silver pulled back below the $30.00 level as gold/silver ratio tested weekly highs.
Platinum moved towards the $960 level as traders rushed to take profits after the recent rally.

In this article:

Gold

-0.10%

Silver

-0.21%

Platinum

-0.56%

Gold

Gold 130125 Daily Chart

Gold retreats as U.S. dollar tests yearly highs. Rising Treasury yields put additional pressure on precious metals markets in today’s trading session.

If gold settles below the 50 MA at $2646, it will move towards the nearest support, which is located in the $2580 – $2590 range.

Silver

Silver 130125 Daily Chart

Silver is under strong pressure as gold/silver ratio climbed above the 89.50 level. If gold/silver ratio settles above 90, silver will gain additional downside momentum.

A move below the $29.50 level will push silver towards the support, which is located in the $28.75 – $29.00 range.

Platinum

Platinum 130125 Daily Chart

Platinum is losing ground amid broad pullback in precious metals markets. Palladium is down by amost 3%, which is bearish for platinum.

If platinum settles below the $960 level, it will head towards the support level at $935 – $945.

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.