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Gold, Silver, Platinum Forecasts – Gold Rebounds As Demand For Safe-Haven Assets Stays Strong

By:
Vladimir Zernov
Published: Apr 15, 2024, 17:16 GMT+00:00

Key Points:

  • Gold managed to settle back above the $2350 level.
  • Silver climbed above $28.50 as gold/silver ratio pulled back below 82.50.
  • Platinum declined towards the $965 level.
Gold, Silver, Platinum Forecasts

In this article:

Gold

Gold
Gold 150424 Daily Chart

Gold rebounds after the sell-off which was driven by profit-taking. Demand for safe-haven assets stays strong amid rising geopolitical tensions.

A move above the resistance at $2350 – $2360 will push gold towards the $2400 level.

Silver

Silver
Silver 150424 Daily Chart

Silver rallied as gold/silver ratio declined below the 82.50 level. From a big picture point of view, gold/silver ratio is moving towards November 2023 lows near the 80 level.

In case silver settles above the resistance at $28.70 – $28.90, it will head towards the next resistance level at $29.70 – $30.00.

Platinum

Platinum
Platinum 150424 Daily Chart

Platinum pulls back as traders continue to take profits after the unsuccessful attempt to settle above the $1000 level.

If platinum declines below $960, it will move towards the nearest support level, which is located 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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