Gold, Silver, Platinum Forecasts – Gold Gains Ground Amid Rising Geopolitical Tensions

By:

Vladimir Zernov

Published: Nov 19, 2024, 18:27 GMT+00:00

Key Points:

Gold is trying to settle above the $2630 level.
Silver tested resistance at $31.45 - $31.75.
Platinum moved above the $970 level.

In this article:

Gold

-0.15%

Silver

-0.04%

Platinum

+0.61%

Gold

Gold 191124 Daily Chart

Gold continues to rebound as traders focus on rising geopolitical tensions. The pullback in Treasury yields provided additional support to gold markets.

If gold settles above the $2650 level, it will move towards the next resistance level at $2675 – $2685.

Silver

Silver 191124 Daily Chart

Silver is mostly flat as gold/silver ratio rebounded above the 84.00 level. RSI is in the moderate territory, and there is enough room to gain momentum in the near term.

A successful test of the resistance at $31.45 – $31.75 will push silver towards the next resistance level at $34.00 – $34.25.

Platinum

Platinum 191124 Daily Chart

Platinum gains ground as traders focus on the strong rally in palladium markets, which are up by 3%.

A move above the resistance at $975 – $985 will push platinum towards the next resistance level at $1020 – $1030.

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, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.