Gold, Silver, Platinum Forecasts – Gold Rallied Above $2750

By:

Vladimir Zernov

Published: Jan 22, 2025, 17:51 GMT+00:00

Key Points:

Gold is moving higher as traders stay bullish despite rising Treasury yields.
Silver did not manage to settle above the $31.00 level due to rising gold/silver ratio.
Platinum continued its attempts to settle above the $960 level.

Gold

Gold 220125 Daily Chart

Gold tested new highs as the rally continued. Traders ignored rising Treasury yields and stronger dollar.

If gold stays above the $2750 level, it will move towards the nearest resistance level at $2780 – $2790.

Silver

Silver 220125 Daily Chart

Silver made an attempt to settle above the $31.00 level but lost momentum and pulled back as gold/silver ratio climbed towards the 89.50 level.

If silver settles back below the 50 MA at $30.39, it will head towards the support level at $28.75 – $29.00.

Platinum

Platinum 220125 Daily Chart

Platinum continues to move higher amid rising demand for precious metals. The strong rally in palladium markets provided additional support to platinum.

A move above the $960 level will open the way to the test of the next resistance level at $975 – $980.

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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.