Gold, Silver, Platinum Forecasts – Gold Attempts To Rebound After Sell-Off

Vladimir Zernov
Published: May 24, 2024, 17:39 GMT+00:00

Key Points:

  • Gold made an attempt to settle above the $2340 level.
  • Silver settled above the $30.00 level.
  • Platinum received support in the $1010 - $1020 range.
Gols, Silver, Platinum Forecasts

In this article:


Gold 240524 Daily Chart

Gold gains ground as some traders are ready to bet on a rebound after the recent sell-off.

If gold climbs back above the $2350 level, it will head towards the resistance at $2390 – $2400.


Silver 240524 Daily Chart

Silver is also moving higher as traders use the pullback as an opportunity to increase their long positions.

If silver settles above the resistance at $30.90 – $31.20, it will head towards the next resistance level at $33.50 – $34.00.


Platinum 240524 Daily Chart

Platinum gains ground amid a broad rebound in precious metals markets.

From the technical point of view, platinum found support in the $1010 – $1020 range. RSI is in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.

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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