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.
The gold markets gapped a little bit lower during the trading session on Thursday, but then went back and forth to form a bit of a hammer as we continue to see buyers near the 200 day EMA.
A strong US dollar stopped gold from correcting higher and breaking the $1863 resistance level during yesterday's trading session, instead stabilizing around the $1844 level.
By the end of last week’s trading, the price of gold had collapsed to the support level of $1828 from the resistance level of $1918 in the same trading session, the largest percentage loss in one day in two months.
Gold markets fell a bit during the trading session on Monday to kick off the week, reaching down towards the $1818 level, which is where the 200-day EMA currently sits.
The US dollar's strength at the end of last week’s trading pushed gold to the $1828 support level, its lowest level in three weeks, and the worst daily performance of gold since November 9, 2020.
In response to a stronger US dollar, the price of gold fell to the level of $1901 in Wednesday's session before returning to stability around the level of $1926 as of this writing.
Despite the recent recovery of the US dollar, the price of gold moved upward towards the resistance level of $1945 an ounce, amid a price gap from last week around the $1893 level.
