Gold, silver and platinum’s red-hot rally still has further to go, strategists say

Precious metals like gold, silver, and platinum have seen significant price increases this year, driven by lower-than-expected U.S. inflation data that hints at possible Federal Reserve rate cuts. Gold hit a three-week high, silver reached its highest in over three years, and platinum climbed to a near one-year peak.
Analysts predict continued growth, with Saxo Bank forecasting gold at $2,400, silver at $30, and platinum at $1,130. ROTH Capital Partners suggests gold could reach $2,600 and silver $35-$37 if certain levels are breached. However, ING’s Ewa Manthey anticipates a cautious approach, expecting gold to average around $2,250 this quarter and slightly lower in 2024.