Gold, Silver, Platinum Forecasts – Gold Rebounds After Pullback

By:

Vladimir Zernov

Published: Jan 14, 2025, 17:15 GMT+00:00

Key Points:

Gold moved higher as traders used the recent pullback as an opportunity to increase their long positions.
Silver is heading towards the $30.00 level as gold/silver ratio pulled back towards 89.50.
Platinum is down by more than 2% as pullback continues.

In this article:

Gold

-0.06%

Silver

-0.07%

Platinum

-0.20%

Gold

Gold 140125 Daily Chart

Gold gains some ground as traders focus on U.S. dollar’s pullback after PPI report, which showed that PPI increased by 0.2% month-over-month in December.

In case gold settles back above the resistance at $2675 – $2685, it will move towards the next resistance level at $2715 – $2725.

Silver

Silver 140125 Daily Chart

Silver is moving higher as gold/silver ratio pulled back towards the 89.50 level. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.

If silver climbs above the $30.00 level, it will move towards the 50 MA at $30.52.

Platinum

Platinum 140125 Daily Chart

Platinum is under pressure as strong pullback continues. Currently, platinum is trying to settle below the support at $935 – $945.

In case this attempt is successful, platinum will head towards the next support level, which is located in the $885 – $895 range.

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.