Gold, Silver, Platinum Forecasts – Gold Remains Stuck Near $2500 As Traders Wait For Catalysts

By:

Vladimir Zernov

Published: Sep 2, 2024, 17:45 GMT+00:00

Key Points:

Gold is losing some ground in quiet trading.
Silver is trying to settle below the $28.50 level.
Platinum settled near the $925 level.

Gold

Gold 020924 Daily Chart

Gold remains stuck near the $2500 level as traders wait for additional catalysts.

In case gold manages to settle below $2500, it will gain downside momentum and move towards the support at $2445 – $2450.

Silver

Silver 020924 Daily Chart

Silver pulls back as gold/silver ratio climbed above the 87.50 level. Rising gold/silver ratio remains a key problem for silver bulls.

In case silver stays below the support at $28.75 – $29.00, it will move towards the next support level at $27.20 – $27.50.

Platinum

Platinum 020924 Daily Chart

Platinum made an attempt to settle above the $920 level but lost momentum and climbed back above $925.

If platinum settles below $920, it will head towards the nearest support level, which is located in the $890 – $900 range.

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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.