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 initially tried to rally during the trading session on Wednesday, to break above the 200-Day EMA, but just as we have seen multiple times this last week or so, there has been selling pressure.
XAU/USD gold prices failed to achieve more than the resistance level of 1759 dollars an ounce during yesterday's trading, as the US dollar recovered against everyone.
Despite the decline in the price of the US dollar during the past week, the gains of the bullish retracement of the gold price (XAU/USD) did not exceed the level of 1761 dollars per ounce.
Due to the recovery of the US dollar, gold futures settled lower.
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