Gold, Silver, Platinum Forecasts – Gold Is Flat As Traders Ignore Rising Treasury Yields

By:

Vladimir Zernov

Published: Oct 3, 2024, 17:50 GMT+00:00

Key Points:

Gold settled near the $2650 level as traders remained focused on rising tensions in the Middle East.
Silver gained ground as gold/silver ratio declined below the 83 level.
Platinum pulled back below the $1000 level.

Gold

Gold 031024 Daily Chart

Gold is mostly flat as traders ignore rising Treasury yields and focus on geopolitical developments.

From the technical point of view, gold remains stuck below the key resistance at $2675 – $2685.

Silver

Silver 031024 Daily Chart

Silver is moving higher as gold/silver ratio pulled back below the 83.00 level. Gold/silver ratio is moving towards multi-week lows, which is bullish for silver.

If silver stays above the $31.75 level, it will head towards the resistance at $34.00 – $34.25.

Platinum

Platinum 031024 Daily Chart

Platinum did not manage to stay above the psychologically important $1000 level and pulled back.

If platinum settles below the support at $975 – $985, it will head towards the next support level at $935 – $940.

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.