DailyForex analysts monitor the gold market regularly to bring you gold price predictions and gold market forecasts that can help you find the best positions in the gold market. Our gold forecast signals are good for both forex gold spot market traders and as well as for the long term gold investors in commodities market.
Watch as gold prices fluctuate based on technical analysis, global political developments and comprehensive market research in the gold market forecasts below. Learn how to purchase gold at the higher price in uptrend market and avoid losing money due to the wrong entry point. Our gold forecase provides you with the right signals at the right time.
For the third consecutive day, gold showed strong bearish momentum, which pushed it to the $1782 support level, a 3-week low, before settling around $1796 as of this writing.
Gold is about to collapse as the US dollar rises, with Federal Reserve Chairman Jerome Powell getting another term as head of the world's most powerful financial institution.
The US dollar recovered with the end of last week's trading, leading to the selling of gold, which moved to the $1843 support level before closing around $1846.
Gold declined from the resistance level of $1878 yesterday, its highest in five months, before it reached the $1849 support and settled around the $1857 level as of this writing.
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