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

By:

Vladimir Zernov

Published: Apr 15, 2024, 17:16 UTC

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

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 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 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.

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About the Author

Vladimir Zernovauthor

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.