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Gold, Silver, Platinum Forecasts – Gold Is Mostly Flat As Traders React To U.S. Economic Data

By:
Vladimir Zernov
Published: Jan 25, 2024, 17:40 GMT+00:00

Treasury yields are moving lower despite strong GDP Growth Rate report, providing some support to gold markets.

Gold, Silver, Platinum Forecasts

In this article:

Key Insights

  • Gold continues its attempts to settle below the support at $2015 – $2025.
  • Silver failed to settle above the $23.00 level. 
  • Platinum tests support at $880 – $890.

Gold

Gold
Gold 250124 Daily Chart

Gold is mostly flat despite stronger dollar as traders focus on falling Treasury yields.

If gold settles below the $2015 level, it will move towards the support at $1970 – $1980.

Silver

Silver
Silver 250124 Daily Chart

Silver has recently made an attempt to settle above the $23.00 level but lost momentum and pulled back.

The nearest support level for silver is located in the $22.25 – $22.50 range. A move below $22.25 will push silver towards the support at $21.50 – $21.70.

Platinum

Platinum
Platinum 250124 Daily Chart

Platinum settled below the $900 level as traders focused on the strong sell-off in palladium markets.

A successful test of the support at $880 – $890 will push platinum towards the next support at $840 – $850.

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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