Gold, Silver, Platinum Forecasts – Gold Tested The $2200 Level

By:

Vladimir Zernov

Published: Mar 26, 2024, 17:15 GMT+00:00

Key Points:

Gold made an attempt to settle above the key $2200 level.
Silver declined towards $24.50 as gold/silver ratio tested new highs.
Platinum received strong support near the $900 level.

Gold

Gold 260324 Daily Chart

Gold tested the $2200 level amid rising geopolitical tensions but lost momentum and pulled back.

As a result, gold remains stuck in the range between the support at $2140 – $2150 and the resistance at $2190 – $2200.

Silver

Silver 260324 Daily Chart

Silver is losing ground as gold/silver ratio moved towards the 89 level. The recent pullback in gold/silver ratio was short-lived, and the ratio is heading back towards the 90 level, which is bearish for silver.

In case silver declines below the support at $24.40 – $24.60, it will head towards the next support level, which is located in the $23.40 – $23.60 range.

Platinum

Platinum 260324 Daily Chart

Platinum managed to stay above the $900 level and is trying to gain additional upside momentum.

In case this attempt is successful, platinum will head towards the resistance at $925 – $935.

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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.