Gold, Silver, Platinum Forecasts – Gold Tests New Highs As Strong Rally Continues

By:

Vladimir Zernov

Published: Oct 18, 2024, 18:02 GMT+00:00

Key Points:

Gold settled above the $2700 level and gained additional upside momentum.
Silver moved above the psychologically important $33.00 level.
Platinum climbed above $1000 and is heading towards the resistance at $1020 - $1030.

Gold

Gold 181024 Daily Chart

Gold tested new highs above the $2700 level as rally continued. Demand for gold stays strong ahead of the weekend.

Gold has recently settled above the resistance at $2675 – $2685 and is moving towards the $2750 level.

Silver

Silver 181024 Daily Chart

Silver tests new highs as gold/silver ratio declined towards the 82.00 level.

A move above the $33.00 level will push silver towards the next resistance, which is located in the $34.00 – $34.25 range.

Platinum

Platinum 181024 Daily Chart

Platinum climbed above the $1000 level amid broad rally in precious metals markets.

If platinum stays above $1010, it will head towards the nearest 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.