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Gold, Silver, Platinum Forecasts – Gold Tests $2435 As Rebound Continues

By:
Vladimir Zernov
Published: Aug 9, 2024, 17:17 GMT+00:00

Key Points:

  • Gold traders stay bullish ahead of the weekend.
  • Silver is stuck near the resistance at $27.50.
  • Platinum faced strong resistance near $940 and pulled back.
Gold, Silver, Platinum Forecasts

In this article:

Gold

Gold
Gold 090824 Daily Chart

Gold gains ground as the rebound continues. The pullback was quickly bought, and gold is moving towards recent highs.

A successful test of the resistance at $2445 – $2450 will push gold towards historic highs.

Silver

Silver
Silver 090824 Daily Chart

Silver pulls back as gold/silver ratio climbed back above the 88.50 level.

In case silver does not manage to settle above the resistance at $27.20 – $2.750, it will move towards the recent lows near the $26.50 level.

Platinum

Platinum
Platinum 090824 Daily Chart

Platinum retreats after an unsuccessful attempt to climb above the resistance at $935 – $940.

If platinum declines below the $910 level, it will move towards the nearest support at $880 – $890.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

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.

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