Gold, Silver, Platinum Forecasts – Gold Climbs Above $2650 Amid Rising Demand For Safe-Haven Assets

By:

Vladimir Zernov

Published: Jan 7, 2025, 17:14 GMT+00:00

Key Points:

Gold attempts to settle above the $2650 level despite strong dollar.
Silver continues its attempts to settle above the psychologically important $30.00 level.
Platinum is up by roughly 3% as the strong rebound continues.

Gold

Gold 070125 Daily Chart

Gold gains ground despite strong dollar and rising Treasury yields. Demand for safe-haven gold is rising amid pullback in U.S. equity markets.

In case gold stays above the $2650 level, it will get to the test of the nearest resistance level at $2675 – $2685.

Silver

Silver 070125 Daily Chart

Silver tested new highs as traders focused on strong performance of gold markets.

A move above the $30.00 level opens the way to the test of the 50 MA at $30.86. If silver settles above the 50 MA, it will move towards the resistance level at $31.45 – $31.75.

Platinum

Platinum 070125 Daily Chart

Platinum rallied as traders bet on rising demand for the metal. Palladium markets have also gained upside momentum in today’s trading session.

If platinum settles above $960, it will head towards the next resistance level at $975 – $985.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Vladimir Zernovauthor

Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.