Gold, Silver, Platinum Forecasts – Gold Gains Ground Despite Strong Dollar

By:

Vladimir Zernov

Published: Dec 6, 2024, 18:35 GMT+00:00

Key Points:

Gold managed to climb back above the $2630 level.
Silver pulled back as gold/silver ratio jumped towards 85.00.
Platinum declined below the $935 level.

Gold

Gold 061224 Daily Chart

Gold managed to gain some ground despite strong U.S. dollar. From a big picture point of view, gold continues to consolidate below the $2650 level.

A move above $2650 will push gold towards the resistance at $2675 – $2685.

Silver

Silver 061224 Daily Chart

Silver is moving lower as gold/silver ratio climbed towards the 85.00 level.

In case silver settles back below $31.00, it will head towards the $30.00 level. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.

Platinum

Platinum 061224 Daily Chart

Platinum tests new lows as pullback continues amid falling demand for precious metals.

If platinum stays below the $935 level, it will head towards the next support level at $895 – $905.

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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.