Gold, Silver, Platinum Forecasts – Gold Rebounds After Pullback

By:

Vladimir Zernov

Published: Jan 14, 2025, 17:10 GMT+00:00

Key Points:

Gold moved higher as traders used the recent pullback as an opportunity to increase their long positions.
Silver is heading towards the $30.00 level as gold/silver ratio pulled back towards 89.50.
Platinum is down by more than 2% as pullback continues.

Gold

Gold 140125 Daily Chart

Gold gains some ground as traders focus on U.S. dollar’s pullback after PPI report, which showed that PPI increased by 0.2% month-over-month in December.

In case gold settles back above the resistance at $2675 – $2685, it will move towards the next resistance level at $2715 – $2725.

Silver

Silver 140125 Daily Chart

Silver is moving higher as gold/silver ratio pulled back towards the 89.50 level. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.

If silver climbs above the $30.00 level, it will move towards the 50 MA at $30.52.

Platinum

Platinum 140125 Daily Chart

Platinum is under pressure as strong pullback continues. Currently, platinum is trying to settle below the support at $935 – $945.

In case this attempt is successful, platinum will head towards the next support level, which is located in the $885 – $895 range.

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.