Gold, Silver, Platinum Forecasts – Gold Is Heading Towards All-Time Highs

By:

Vladimir Zernov

Published: Oct 16, 2024, 18:05 GMT+00:00

Key Points:

Gold is trying to settle above the $2685 level.
Silver continues its attempts to settle above the resistance at $31.45 - $31.75.
Platinum made an attempt to climb above the $1000 level.

Gold

Gold 161024 Daily Chart

Gold gains ground as traders ignore stronger dollar and focus on falling Treasury yields.

A successful test of the resistance at $2675 – $2685 will open the way to the test of the $2700 level.

Silver

Silver 161024 Daily Chart

Silver made an attempt to settle above the resistance at $31.45 – $31.75 as traders focused on the strong performance of gold markets.

If silver settles above $31.75, it will move towards the $33.00 level.

Platinum

Platinum 161024 Daily Chart

Platinum is moving higher amid rising demand for precious metals. Palladium markets gained 1.3%, providing additional support to platinum.

In case platinum climbs above the psychologically important $1000 level, it will head towards the resistance 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 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.