Gold, Silver, Platinum Forecasts – Gold Remains Stuck Near $2025

Vladimir Zernov
Published: Dec 7, 2023, 17:49 GMT+00:00

U.S. dollar's pullback did not provide material support to gold markets.

Gold, Silver, Platinum Forecasts

In this article:

Key Insights

  • Gold continues to stabilize after the recent test of all-time highs. 
  • Silver retreats as gold/silver ratio moves above 85.
  • Platinum rebounds as traders focus on the encouraging economic data from China. 


Gold 071223 Daily Chart

Gold remains stuck near the $2025 level despite U.S. dollar’s pullback. From a big picture point of view, gold markets are trying to stabilize after the recent test of all-time high levels.

The nearest support level for gold is located in the $2015 – $2025 range. A move below $2015 will push gold towards the next support at $1975 – $1985.


Silver 071223 Daily Chart

Silver remains under strong pressure as gold/silver ratio moved above the 85.00 level.

A move below the support at $23.40 – $23.60 will push silver towards the next support at $22.25 – $22.50.


Platinum 071223 Daily Chart

Platinum rebounds after the recent pullback as traders react to the economic data from China. China’s exports increased by 0.5% year-over-year in November, compared to analyst consensus of -1.1%.

If platinum stays above the $900 level, it will head towards the resistance at $925 – $935.

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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