Gold, Silver, Platinum Forecasts – Gold Tests Historic Highs

By:

Vladimir Zernov

Published: Jan 31, 2025, 17:56 GMT+00:00

Key Points:

Gold settled above the $2800 level and continues to move higher.
Silver continues its attempts to settle above the resistance at $31.45 - $31.75.
Platinum rallied towards the $1030 level.

Gold

Gold 310125 Daily Chart

Gold tests historic highs as traders react to U.S. dollar’s pullback and evaluate Trump’s tariff plans.

If gold stays above the $2800 level, it will move towards the $2850 level. RSI has recently moved into the overbought territory, but there is enough room to gain momentum in the near term.

Silver

Silver 310125 Daily Chart

Silver is losing ground as gold/silver ratio moved back towards the 89.50 level. Rising gold/silver ratio remains a key problem for silver bulls.

A successful test of the resistance at $31.45 – $31.75 will push silver towards the next resistance level at $32.75 – $33.00.

Platinum

Platinum 310125 Daily Chart

Platinum tests new highs as the strong rally continues. Palladium is up by 4%, which is bullish for platinum.

A move above the $1030 level will open the way to the test of the next resistance level at $1080 – $1090.

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, 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.