Gold, Silver, Platinum Forecasts – Gold Pulls Back From Historic Highs As Dollar Rebounds

By:

Vladimir Zernov

Published: Sep 17, 2024, 17:45 GMT+00:00

Key Points:

Gold made an attempt to settle below the $2560 level.
Silver pulled back amid profit-taking.
Platinum tested support at $975 - $985.

Gold

Gold 170924 Daily Chart

Gold moves away from historic highs as U.S. dollar rebounds from weekly lows after the release of U.S. Retail Sales data.

In case gold settles below the $2550 level, it will head towards the next support level at $2520 – $2530.

Silver

Silver 170924 Daily Chart

Silver is losing some ground as traders continue to take profits off the table after the strong rally.

If silver settles below the $30.50 level, it will move towards the $30.00 level. A move below $30.00 will push silver towards the support at $28.75 – $29.00.

Platinum

Platinum 170924 Daily Chart

Platinum is under pressure amid broad pullback in precious metals markets.

A successful test of the support at $975 – $985 will open the way to the test of the next support level at $935 – $940.

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.