Gold, Silver, Platinum Forecasts – Gold Tests New Highs Despite Rising Treasury Yields

Vladimir Zernov
Published: May 10, 2024, 17:02 GMT+00:00

Key Points:

  • Gold continued to rebound from May lows as traders ignored stronger dollar and rising Treasury yields.
  • Silver pulled back amid profit-taking.
  • Platinum moved towards the psychologically important $1000 level.
Gold, Silver, Platinum Forecasts

In this article:


Gold 100524 Daily Chart

Gold tested new highs despite rising Treasury yields. Demand for gold stays strong as traders bet that central banks will keep buying gold for reserves.

The nearest resistance level for gold is located in the $2390 – $2400 range. A move above the $2400 level will push gold towards $2450.


Silver 100524 Daily Chart

Silver pulled back as gold/silver ratio rebounded above 83.50. Profit-taking served as the key driver for the pullback.

From the technical point of view, silver settled in a range between the support at $27.75 – $28.00 and the resistance at $28.75 – $29.00.


Platinum 100524 Daily Chart

Platinum climbed above the resistance at $975 – $985 and moved towards the $1000 level.

If platinum settles above $1000, it will head towards the resistance at $1010 – $1020.

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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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