Gold, Silver, Platinum Forecasts – Gold Pulls Back As Demand For Safe-Haven Assets Declines

Vladimir Zernov
Published: Jan 22, 2024, 16:35 GMT+00:00

The appetite for risk is rising as U.S. indices test historic highs, which is bearish for gold markets.

Gold, Silver, Platinum Forecasts

In this article:

Key Insights

  • Gold is trying to settle back below the $2025 level. 
  • Silver tests new lows as gold/silver ratio climbed above the 91 level. 
  • Platinum moved back below the psychologically important $900 level. 


Gold 220124 Daily Chart

Gold is losing ground as demand for safe-haven assets declines. Traders focus on the strong rally in U.S. equity markets and are less interested in buying gold.

If gold declines below the support at $2015 – $2025, it will move towards the next support level at $2065 – $2075.


Silver 220124 Daily Chart

Silver is trying to settle below the $22.25 level as gold/silver ratio moved above the 91.00 level. Rising gold/silver ratio remains the key negative catalyst for silver.

In case silver settles below $22.25, it will move towards the next support level, which is located in the $21.50 – $21.70 range.


Platinum 220124 Daily Chart

Platinum  is moving lower amid a broad pullback in precious metals markets.

In case platinum settles below the nearest support at $880 – $890, it will head 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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