Precious Metals Outlook for Q4 2024

Gold prices experienced a substantial surge of 13.36% or US$310.44/oz in Q3, notching multiple new all-time highs, closely aligning with our projection released on 1 July 2024. As we transition into Q4 2024, our proprietary system indicates that Gold retains its cyclical uptrend, with the bulls firmly in control. There is a strong likelihood that bulls will retest the supply strength at the US$2,685/oz level, which represents the current all-time high for Gold, potentially setting new records.

Silver prices also rose throughout Q3, climbing 7.07% or US$2.06/oz, marking its fourth consecutive quarterly increase, in line with our projections. Looking ahead to Q4 2024, our system shows that Silver prices will continue to trend higher. Bulls have identified US$32.70/oz as the next target, reflecting the high for Silver in 2024.

Our system suggests that if the precious metals market maintains its uptrend this quarter, Gold may outperform Silver in terms of price movement.

Platinum prices ticked down slightly in Q3, declining by US$13.18/oz or 1.32%. However, Platinum remains within the established range of US$850/oz to US$1,100/oz, a band that has persisted since Q3 2021. As we move into Q4 2024, our system projects that Platinum prices will remain within this range, but with an upside bias. Bulls are targeting US$1,100/oz, the high for Platinum in 2024.

Please feel free to contact us if you require additional information or have any further questions regarding our Q4 outlook for precious metals. We are always available to assist you and wish you a successful trading experience!