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.
Within the completion of the performance movement at the end of last week, the price of gold moved at the beginning of this week’s trading amid bearishness.
The gold markets fell pretty significantly during the trading session on Friday as we continue to see a lot of noisy behavior and a bit of hesitation to go forward.
The recovery of the US dollar before the announcement of US inflation figures contributed to the decline in the price of gold to the level of 1888 dollars per ounce.
With pressures on the US dollar, the price of gold is trying to maintain the psychological resistance level of $1900, which paves the way for testing stronger highs.
The return of the weakness of the US dollar contributed to a positive start for the gold price in this week's trading, reaching the psychological resistance level of $1900 again.
A strong US dollar led to two sharply bearish trading sessions for the price of gold last week that pushed it towards the support level of $1855, a 3-week low.
The gold markets fell initially during the trading session on Friday, reaching down towards the $1850 level before turning around and showing signs of life again.
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