Gold, Silver, Platinum Forecasts – Gold Rebounds Above $2000 As Dollar Pulls Back

Vladimir Zernov
Published: Feb 15, 2024, 17:59 GMT+00:00

The disappointing U.S. Retail Sales report provided significant support to precious metals markets.

Gold, Silver, Platinum Forecasts

In this article:

Key Insights

  • Gold gained ground as traders focused on the weak U.S. Retail Sales data. 
  • Silver made an attempt to settle above the $23.00 level as gold/silver ratio tested new lows. 
  • Platinum tested the $900 level. 


Gold 150224 Daily Chart

Gold rebounds as U.S. dollar pulls back after the release of the disappointing Retail Sales data.

In case gold manages to settle above the $2000 level, it will move towards the nearest resistance, which is located in the $2015 – $2025 range.


Silver 150224 Daily Chart

Silver rallied as gold/silver ratio pulled back below the 87.50 level. From a big picture point of view, gold/silver ratio continues to move lower after an unsuccessful attempt to settle above the 90 level, which is bullish for silver.

In case silver settles above the $23.00 level, it will head towards the resistance at $23.40 – $23.60.


Platinum 150224 Daily Chart

Platinum is trying to settle above the $900 level amid a broad rebound in precious metals markets.

In case this attempt is successful, platinum will head towards the resistance in the $925 – $935 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.

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