Gold, Silver, Platinum Forecasts – Gold Climbs Towards $2300 As Demand Stays Strong

By:

Vladimir Zernov

Published: Apr 3, 2024, 17:05 UTC

Key Points:

Gold is heading towards the psychologically important $2300 level.
Silver rallied after a successful test of the $26.00 level.
Platinum gained ground amid a broad rally in precious metals markets.

Gold

Gold 030424 Daily Chart

Gold tested new highs as rally continued. U.S. dollar’s pullback and fear of missing out were the key drivers for the move.

Gold is overbought, but every pullback is quickly bought as demand stays strong. The market sentiment is extremely bullish, and gold is ready to test the $2300 level.

Silver

Silver 030424 Daily Chart

Silver tested multi-year highs as gold/silver ratio declined towards the 85 level. Finally, silver managed to get out of the wide trading range and is ready to test new highs.

A move above $26.95 will open the way to the test of the $28.00 level.

Platinum

Platinum 030424 Daily Chart

Platinum tests resistance at $925 – $935 amid a broad rally in precious metals markets.

If platinum manages to settle above this level, it will head towards the next resistance, which is located in the $975 – $985 range.

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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.