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.
Gold markets have rallied again during the trading session on Wednesday as we continue to see bickering and hints about what may or may not happen with stimulus in the United States.
For five trading sessions in a row, gold prices are moving in a limited range between $1883 an ounce and $1919 and stabilizes around $1902 an ounce at the time of writing.
The US dollar strength is still preventing gold prices from benefiting from the global anxiety of the second coronavirus wave, while the stimulus talks for the US economy have stopped.
The recovery of the US dollar was a good reason for the retreat of gold prices to the $1882 support at the beginning of Wednesday’s trading, before the price of the yellow metal stabilized around $1897 an ounce at the time of writing.
Gold prices settled higher at the beginning of this week’s trading, despite gains being modest, as optimism regarding the fiscal stimulus law limited the bullishness of the yellow metal.
