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Gold, Silver, Platinum Forecasts – Gold Tests The Key $2000 Level

By:
Vladimir Zernov
Published: Nov 24, 2023, 17:05 GMT+00:00

U.S. dollar's weakness provides support to precious metals.

Gold, Silver, Platinum Forecasts

In this article:

Key Insights

  • Gold remains stuck near the $2000 level. 
  • Silver tested new highs as gold/silver ratio settled below the 83 level. 
  • Platinum moved towards $935 as demand for precious metals increased. 

Gold

Gold
Gold 241123 Daily Chart

Gold continues its attempts to settle above the $2000 level as U.S. dollar remains under pressure against a broad basket of currencies.

If gold manages to settle above $2000, it will get to the test of the resistance at $2015 – $2025.

Silver

Silver
Silver 241123 Daily Chart

Silver gained upside momentum and tested new highs as gold/silver ratio pulled back below the 82.50 level.

From the technical point of view, silver looks ready to move towards the next resistance level at $25.00 – $25.30.

Platinum

Platinum
Platinum 241123 Daily Chart

Platinum gained ground as demand for precious metals increased. Rising Treasury yields did not put pressure on platinum markets today.

A successful test of the resistance at $925 – $935 will push platinum towards the next resistance level at $990 – $1000.

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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