Gold, Silver, Platinum Forecasts – Gold Is Heading Towards $2400 As Demand Stays Strong

Vladimir Zernov
Published: Apr 18, 2024, 17:17 GMT+00:00

Key Points:

  • Gold managed to rebound after yesterday's pullback.
  • Silver made another attempt to settle above the nearest resistance at $28.70 - $28.90.
  • Platinum tested support at $925 - $935.
Gold, Silver, Platinum Forecasts

In this article:


Gold 180424 Daily Chart

Gold is moving towards the $2400 level despite stronger dollar and rising Treasury yields. Demand for safe-haven assets remains strong amid geopolitical tensions, which is bullish for gold and other precious metals.

A move above the resistance at $2390 – $2400 will push gold towards recent highs at $2430.


Silver 180424 Daily Chart

Silver gained some ground as traders focused on the strong performance of gold markets.

A successful test of the nearest resistance at $28.70 – $28.90 will open the way to the test of the next resistance level at $29.70 – $30.00.


Platinum 180424 Daily Chart

Platinum is mostly flat as traders remain worried about the strength of demand for the metal in the near term.

From the technical point of view, platinum received support in the $925 – $935 range. Most likely, platinum will need additional catalysts to settle below $925.

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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