Silver Prices Decline as Dollar Strengthens and China’s Economic Uncertainty Grows
September 24, 2024Traders Take Profits as Precious Metals Market Retreats
September 28, 2024Gold tested new highs during a strong rally, driven by robust demand from central banks despite being in overbought territory. Traders are focused on breaching the resistance at $2675 – $2685 to target the $2700 level. Silver followed suit, hitting new highs as the gold/silver ratio dipped below 83.50. Currently aiming to surpass the $32.00 level, silver may target the next resistance at $34.00 – $34.25 upon successful consolidation. In the platinum market, prices surged above the $1000 level after surpassing the $975 – $985 resistance. The next target for platinum lies within the $1020 – $1030 range, with a breakout past $1030 potentially fueling further upside momentum.