Gold, Silver, Platinum Forecasts – Gold Tests Historic Highs As Rally Continues

By:

Vladimir Zernov

Published: Sep 20, 2024, 17:45 GMT+00:00

Key Points:

Gold rallies, supported by Fed policy outlook.
Silver continues its attempts to settle above the resistance at $31.45 - $31.75.
Platinum did not manage to settle above the $990 level and pulled back.

Gold

Gold 200924 Daily Chart

Gold tests historic highs as traders stay focused on dovish Fed policy outlook, which is bullish for precious metals.

RSI has recently moved into the overbought territory, but there is enough room to gain momentum in the near term.

Silver

Silver 200924 Daily Chart

Silver is trying to settle above the strong resistance at $31.45 – $31.75 as traders focus on the strong performance of gold markets.

A move above $31.75 will provide silver with an opportunity to gain strong upside momentum.

Platinum

Platinum 200924 Daily Chart

Platinum is losing ground after an unsuccessful attempt to settle above the $990 level.

If platinum pulls back below $970, it will head towards the 50 MA at $950.

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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.