Gold, Silver, Platinum Forecasts – Gold Moves Higher On Christmas Eve

By:

Vladimir Zernov

Published: Dec 24, 2024, 17:45 GMT+00:00

Key Points:

Gold is trying to settle above the $2620 level.
Silver is stuck in a tight range as traders wait for catalysts.
Platinum attempts to climb above the $950 level.

Gold

Gold 241224 Daily Chart

Gold managed to gain some ground despite stronger dollar. From a big picture point of view, traders are not ready for big moves ahead of Christmas.

If gold pulls back below the $2610 level, it will head towards the nearest support, which is located in the $2580 – $2590 range.

Silver

Silver 241224 Daily Chart

Silver remains stuck below the $30.00 level as traders wait for catalysts. RSI is in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.

A move above the $30.00 level will push silver towards the resistance at $31.45 – $31.75.

Platinum

Platinum 241224 Daily Chart

Platinum is trying to settle above the strong resistance level at $935 – $945 as traders bet on improvements in demand for the metal.

In case this attempt is successful, platinum will head towards the 50 MA at $965.

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.