Gold, Silver, Platinum Forecasts – Gold Tests Multi-Week Highs

By:

Vladimir Zernov

Published: Jan 8, 2025, 17:08 GMT+00:00

Key Points:

Gold is trying to settle above the $2670 level.
Silver settled above the $30.00 level and attempts to gain additional upside momentum.
Platinum climbed towards the nearest resistance at $975 - $985.

Gold

Gold 080125 Daily Chart

Gold gains ground as demand for precious metals continues to increase. U.S. dollar moved towards yearly highs, but this move did not put pressure on gold markets.

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

Silver

Silver 080125 Daily Chart

Silver is moving higher, supported by the strong performance of gold markets. However, gold/silver ratio moved back above the 88 level, which is worrisome for the bulls.

If silver stays above the $30.00 level, it will move towards the 50 MA at $30.78.

Platinum

Platinum 080125 Daily Chart

Platinum tests new highs as the strong rebound continues amid rising demand for precious metals.

A successful test of the resistance at $975 – $985 will push platinum towards the next resistance level at $1020 – $1030.

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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.