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Gold, Silver, Platinum Forecasts – Gold Rebounds Above $2350

By:
Vladimir Zernov
Published: May 27, 2024, 17:31 GMT+00:00

Key Points:

  • Gold continues to rebound after the recent pullback.
  • Silver moved above the $31.50 level as gold/silver ratio tested new lows.
  • Platinum is trying to settle back above $1050.
Gold, Silver, Platinum Forecasts

In this article:

Gold

Gold
Gold 270524 Daily Chart

Gold gains ground as demand for precious metals is rising. RSI is in the moderate territory, so there is plenty of room to gain additional upside momentum.

If gold settles above the $2350 level, it will head towards the next resistance, which is located in the $2390 – $2400 range.

Silver

Silver
Silver 270524 Daily Chart

Silver rallies as gold/silver ratio declined towards the 74 level. Such levels were last seen back in 2021.

If silver stays above the $31.20 level, it will move towards the next resistance at $33.50 – $34.00.

Platinum

Platinum
Platinum 270524 Daily Chart

Platinum gained strong upside momentum amid a broad rally in precious metals markets.

In case platinum settles above the $1050 level, it will get to the test of the resistance at $1070 – $1080.

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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