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Gold, Silver, Platinum Forecasts – Gold Gains Ground As U.S. Dollar Moves Lower

By: 
Vladimir Zernov
Gold, Silver, Platinum Forecasts

Key Points:

  • Gold made an attempt to settle above the $2650 level.
  • Silver pulled back as gold/silver ratio tested new highs.
  • Platinum settled near the $925 level.

Gold

Gold
Gold 271124 Daily Chart

Gold gained some ground as traders reacted to U.S. dollar’s strong pullback, which was triggered by U.S. economic reports.

If gold settles above the $2650 level, it will head towards the nearest resistance at $2675 – $2685.

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Silver

Silver
Silver 271124 Daily Chart

Silver attempts to settle below the $30.00 level as gold/silver ratio climbed above the 87.50 level.

In case silver declines below $30.00, it will head towards the support level, which is located in the $28.75 – $29.00 range.

Platinum

Platinum
Platinum 271124 Daily Chart

Platinum is mostly flat as traders ignore U.S. dollar’s pullback. Falling Treasury yields did not provide support to platinum in today’s trading session.

A move below the $925 level will push platinum towards the next support at $895 – $905.

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For a look at all of today’s economic events, check out our economic calendar.

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About the Author

Vladimir ZernovFutures Trading Expert

Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.

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