Gold, Silver, Platinum Forecasts – Gold Is Mostly Flat As Traders Focus On U.S. Dollar’s Moves

By:

Vladimir Zernov

Published: Jan 6, 2025, 17:30 GMT+00:00

Key Points:

Gold settled near the $2640 level as traders reacted to wild swings in forex markets.
Silver is trying to settle back above the $30.00 level as gold/silver ratio tests new lows.
Platinum failed to climb above the resistance at $935 - $945.

In this article:

Gold

-0.06%

Silver

-0.11%

Platinum

+0.42%

Gold

Gold 060125 Daily Chart

Gold is mostly flat as traders focus on U.S. dollar’s pullback, which was triggered by reports about Trump’s tariff policy.

In case gold climbs above the 50 MA at $2655, it will move towards the nearest resistance level at $2675 – $2685.

Silver

Silver 060125 Daily Chart

Silver rallied as gold/silver ratio pulled back below the 88.00 level. The strong pullback in gold/silver ratio provided significant support to silver in recent trading sessions.

A move above the $30.00 level will push silver towards the 50 MA at $30.93.

Platinum

Platinum 060125 Daily Chart

Platinum made an attempt to settle above the resistance at $935 – $945 but lost momentum and pulled back towards the $930 level.

If platinum settles below the $930 level, it will head towards the nearest support level at $895 – $905.

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.