Gold, Silver, Platinum Forecasts – Gold Gains Ground As Dollar Pulls Back

Vladimir Zernov
Published: Sep 18, 2023, 17:21 GMT+00:00

Precious metals enjoy strong support at the start of the week.

Gold, Silver, Platinum Forecasts

In this article:

Key Insights

  • Gold moves higher as traders focus on the dynamics of U.S. dollar. 
  • Silver is heading towards the 200 MA at $23.50.
  • Platinum tests resistance at $925 – $935. 


Gold 180923 Daily Chart

Gold gains ground as U.S. dollar pulls back at the start of the week. Traders have started to prepare for the Fed decision, which will be released on Wednesday.

From the technical point of view, gold remains stuck in the $1900 – $1940 range. A move above the $1940 level will provide gold with an opportunity to gain additional upside momentum.


Silver 180923 Daily Chart

Silver continues to rebound from multi-week lows as traders focus on the dynamics of the U.S. dollar.

In case silver settles above the 200 MA at $23.50, it will head towards the next resistance in the $24.25 – $24.50 range.


Platinum 180923 Daily Chart

Platinum tests resistance at $925 – $935 amid rising demand for precious metals.

In case this test is successful, platinum will head towards the next resistance, which is located in the $975 – $985 range.

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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