Gold, Silver, Platinum Forecasts – Gold Tests New Highs As Treasury Yields Pull Back

Vladimir Zernov
Published: Feb 23, 2024, 17:08 UTC

Key Points:

  • Gold is trying to settle above the $2040 level.
  • Silver rebounded towards $23.00 after an unsuccessful attempt to settle below $22.50.
  • Platinum gained some ground amid rising demand for precious metals.
Gold, Silver, Platinum Forecasts

In this article:


Gold 230224 Daily Chart

Gold gains ground as traders focus on the pullback in Treasury yields. Falling Treasury yields serve as a bullish catalyst for precious metals that pay no interest.

In case gold manages to stay above the $2025 level, it will move towards the nearest resistance at $2065 – $2075.


Silver 230224 Daily Chart

Silver rebounded towards the $23.00 level as gold/silver ratio pulled back below the 89 level after an unsuccessful attempt to settle above 89.50.

A move above the $23.00 level will push silver towards the resistance at $23.40 – $23.60.


Platinum 230224 Daily Chart

Platinum settled back above the $900 level amid a broad rally in precious metals markets.

From the technical point of view, platinum is moving towards the resistance at $925 – $935.

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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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