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Gold, Silver, Platinum Forecasts – Gold Stays Above $2150 As Traders Prepare For Fed Decision

By:
Vladimir Zernov
Published: Mar 19, 2024, 17:16 GMT+00:00

Key Points:

  • Gold is losing some ground but traders are not ready for big moves ahead of the Fed decision.
  • Silver pulled back below the $25.00 level.
  • Platinum settled below $900 as the pullback continued.
Gold, Silver, Platinum Forecasts

In this article:

Gold

Gold
Gold 190324 Daily Chart

Gold remains stuck near the $2150 level as traders are not ready for big moves ahead of Fed decision, which will be released tomorrow.

The support at $2140 – $2150 has been tested several times and proved its strength. If gold stays above the $2150 level, it will head towards the resistance at $2190 – $2200.

Silver

Silver
Silver 190324 Daily Chart

Silver pulled back below the $25.00 level as gold/silver ratio climbed above 86.50.

If silver stays below $25.00, it will head towards the nearest support, which is located in the $24.40 – $24.60 range.

Platinum

Platinum
Platinum 190324 Daily Chart

Platinum remains under strong pressure as traders focus on the continuation of the sell-off in palladium markets, which are down by 4.15%.

RSI remains in the moderate territory despite the significant pullback, so there is plenty of room to gain additional downside momentum.

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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