
Silver Prices Surge as Investors Bet on Fed Rate Cuts, $32.52 in Sight
September 17, 2024
Gold Prices Remain Near Record Highs on Expectations of Larger Rate Cut
September 17, 2024Gold reached new highs as traders paid attention to the weakening U.S. dollar and decreasing Treasury yields. The Relative Strength Index (RSI) is approaching overbought levels, suggesting some traders are considering taking profits near historical peaks. Silver also saw highs above $31.00 before a reversal due to profit-taking. If silver falls below $30.50, it may target the crucial $30.00 mark. Platinum, on the other hand, experienced a pullback as traders booked profits following a strong recovery from September lows. A drop below support levels at $975 – $985 could push platinum towards the 50-day Moving Average at $950.



