Gold, Silver, Platinum Forecasts – Gold Remains Stuck Below The Key Resistance Level

By:

Vladimir Zernov

Published: Aug 27, 2024, 17:34 GMT+00:00

Key Points:

Gold settled below the resistance at $2520 - $2530.
Silver is trying to climb above the $30.00 level as gold/silver ratio pulled back towards 84.
Platinum pulled back below the $960 level.

Gold

Gold 270824 Daily Chart

Gold is stuck below the key resistance level at $2520 – $2530 as traders wait for additional catalysts.

The technical setup is bullish, but gold needs to settle above the $2530 level to gain upside momentum.

Silver

Silver 270824 Daily Chart

Silver continues its attempts to settle above the $30.00 level. Gold/silver ratio pulled back towards the 84.00 level, providing some support to silver markets.

In case silver climbs above $30.00, it will move towards the resistance at $31.40 – $31.75.

Platinum

Platinum 270824 Daily Chart

Platinum pulls back after an unsuccessful attempt to settle above the resistance at $975 – $985.

The technical picture remains unchanged as platinum is stuck between the support at $935 – $940 and the resistance at $975 – $985.

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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.