Gold, Silver, Platinum Forecasts – Gold Pulls Back As Treasury Yields Move Higher

Vladimir Zernov
Published: Sep 19, 2023, 18:10 GMT+00:00

Platinum made an attempt to settle above the $950 level.

Gold, Silver, Platinum Forecasts

In this article:

Key Insights

  • Gold declined towards the $1930 level after an unsuccessful attempt to settle above $1940.
  • Silver faced resistance near the 200 MA at $23.50.
  • Platinum moved above the $940 level as the rebound continued.


Gold 190923 Daily Chart

Gold made an attempt to settle above the resistance at $1935 – $1940 as traders prepared for tomorrow’s Fed decision, which will have a material impact on gold markets.

If gold climbs above $1940, it will head towards the resistance, which is located in the $1975 – $1985 range.


Silver 190923 Daily Chart

Silver faced resistance near the 200 MA and pulled back. Treasury yields are moving higher, which is bearish for silver markets.

A move above the 200 MA at $23.50 will push silver towards the resistance in the $24.25 – $24.50 range.


Platinum 190923 Daily Chart

Platinum gained additional upside momentum after the successful test of the previous resistance at $925 – $935.

RSI remains in the moderate territory, which is bullish for platinum. The nearest resistance level is located in the $975 – $985 range.

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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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