Gold, Silver, Platinum Forecasts – Gold Slides Below $2000 As U.S. Inflation Exceeds Expectations

Vladimir Zernov
Published: Feb 13, 2024, 16:59 GMT+00:00

Silver and platinum are down by more than 2% amid a strong sell-off in precious metals markets.

Gold, Silver, Platinum Forecasts

In this article:

Key Insights

  • Gold is trying to settle below the key $2000 level. 
  • Silver tests support at $22.25 as traders focus on strong dollar and rising Treasury yields. 
  • Platinum pulled back below the $880 level. 


Gold 130224 Daily Chart

Gold is under strong pressure as traders react to U.S. inflation reports. Treasury yields tested new highs as bond traders bet on a more hawkish Fed. Rising Treasury yields are bearish for gold and other precious metals that pay no interest.

If gold stays below the $2000 level, it will head towards the next support at $1965 – $1975.


Silver 130224 Daily Chart

Silver is losing ground as gold/silver ratio climbed back above the 90 level. U.S. dollar tested new highs after the release of CPI data, putting additional pressure on silver markets.

A move below the $22.25 level will open the way to the test of the support at $21.50 – $21.65.


Platinum 130224 Daily Chart

Platinum pulls back amid a broad sell-off in precious metals markets.

In case platinum declines below the $870 level, it will head towards the support at $840 – $850.

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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