Gold, Silver, Platinum – Gold Climbed Back Above $2000

Vladimir Zernov
Published: Apr 11, 2023, 16:42 UTC

U.S. dollar's pullback provided significant support to precious metals.


In this article:

Key Insights

  • Gold settled back above the key $2000 level. 
  • Silver tested resistance at $25.00.
  • Platinum remained stuck near the $1000 level. 


Gold 110423 Daily Chart

Gold moved back above the $2000 level and is trying to settle above the next resistance at $2010 as U.S. dollar pulls back against a broad basket of currencies.

In case this attempt is successful, gold will move towards the resistance at $2025. A successful test of the resistance at $2025 will push gold towards the resistance level at $2050.

R1:$2010 – R2:$2025 – R3:$2050

S1:$2000 – S2:$1980 – S3:$1960


Silver 110423 Daily Chart

Silver continues its attempts to settle above the $25.00 level. Demand for safe-haven precious metals remains strong, and silver bulls ignore rising Treasury yields.

If silver settles above $25.00, it will get to the test of the resistance at $25.30. On the support side, a move below the $25.00 level will push silver towards the support level at $24.65.

R1:$25.00 – R2:$25.30 – R3:$25.60

S1:$24.65 – S2:$24.50 – S3:$24.00


Platinum 110423 Daily Chart

Platinum settled near the $1000 level despite the bullish sentiment in precious metals markets.

If silver stays above the support at $1000, it will move towards the next resistance level at $1030. A successful test of this level will push platinum towards the resistance at $1050.

R1:$1030 – R2:$1050 – R3:$1065

S1:$1000 – S2:$985 – S3:$965

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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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