Gold, Silver, Platinum Forecasts – Gold Tests Historic Highs Despite Rising Treasury Yields

By:

Vladimir Zernov

Published: Oct 17, 2024, 18:20 GMT+00:00

Key Points:

Gold is trying to settle above the $2700 level.
Silver moved lower as gold/silver ratio climbed above 85.
Platinum did not manage to settle above the $1000 level.

Gold

Gold 171024 Daily Chart

Gold tests new highs as traders remain bullish despite strong dollar and rising Treasury yields.

RSI is in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.

Silver

Silver 171024 Daily Chart

Silver pulled back despite the rally in the gold markets as gold/silver ratio climbed above the 85.00 level.

From the technical point of view, silver needs to settle above the resistance at $31.45 – $31.75 to gain additional upside momentum.

Platinum

Platinum 171024 Daily Chart

Platinum made an attempt to settle above the $1000 level but lost momentum and pulled back.

If platinum declines below the $975 level, it will move towards the 50 MA at $961.

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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.