Gold, Silver, Platinum Forecasts – Gold Rebounds From Session Lows As Traders Buy The Dip

By:

Vladimir Zernov

Published: Jan 23, 2025, 17:53 GMT+00:00

Key Points:

Gold climbed back above the $2750 level.
Silver moved below the $30.50 level as gold/silver ratio tested new highs.
Platinum continued its attempts to settle above the $960 level.

Gold

Gold 230125 Daily Chart

Gold rebounded from session lows as traders used the pullback as an opportunity to increase their long positions.

A move above the $2760 level will push gold towards the nearest resistance at $2780 – $2790.

Silver

Silver 230125 Daily Chart

Silver pulled back as gold/silver ratio climbed above the psychologically important 90.00 level.

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

Platinum

Platinum 230125 Daily Chart

Platinum is mostly flat as traders wait for additional catalysts. The continuation of the rally in palladium markets did not provide support to platinum in today’s trading session.

If platinum manages to settle above the $960 level, it will move towards the resistance level at $975 – $985.

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About the Author

Vladimir Zernovauthor

Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.