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Gold, Silver, Platinum Forecasts – Gold Rebounds As Treasury Yields Pull Back

By:
Vladimir Zernov
Published: Sep 22, 2023, 17:27 GMT+00:00

Demand for precious metals is rising ahead of the weekend.

Gold, Silver, Platinum Forecasts

In this article:

Key Insights

  • Gold is moving higher amid falling Treasury yields. 
  • Silver climbs as gold/silver ratio tests weekly lows. 
  • Platinum is trying to settle above the $935 level. 

Gold

Gold
Gold 220923 Daily Chart

Gold gains some ground as traders focus on the pullback in Treasury yields. The U.S. dollar is mostly flat ahead of the weekend, and its dynamics have little impact on gold markets.

Gold needs to climb above the $1940 level to gain sustainable momentum. Meanwhile, gold remains stuck in the $1900 – $1940 range.

Silver

Silver
Silver 220923 Daily Chart

Silver continues to move higher as gold/silver ratio tests weekly lows. It should be noted that gold/silver ratio is far away from the lows that were reached back in late August, so silver has a decent chance to gain additional momentum.

If silver stays above the $23.50 level, it will move towards the resistance at $24.25 – $24.50.

Platinum

Platinum
Platinum 220923 Daily Chart

Platinum is also moving higher amid rising demand for precious metals.

If platinum settles above $935, it will head towards the resistance, which is located near August highs at $975 – $985.

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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