Advertisement
Advertisement

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

By:
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

Gold
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

Silver
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

Platinum
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.

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.

Did you find this article useful?

Advertisement