Stocks Finish Flat, Dollar Strengthens Ahead of Fed Rate Decision
September 18, 2024Forecasts for Precious Metals: Gold Approaches $2590 Level, Silver Eyes Resistance at $31.45, Platinum Rebounds Towards $1000 Level
September 20, 2024Gold has shifted away from its record peak levels as the U.S. dollar bounces back from its weekly decline following the release of U.S. Retail Sales figures. If gold drops below $2550, it may target the support zone of $2520 – $2530. Meanwhile, silver is seeing a decrease as traders take profits after a strong uptrend. A drop below $30.50 could send silver towards $30.00, with further downside potential towards the $28.75 – $29.00 support range. Platinum is facing selling pressure in the precious metals sector. Should it successfully test and breach the $975 – $985 support level, the next target could be $935 – $940.