Gold Price Forecast and Technical Analysis Today

The gold markets broke down significantly on Tuesday as we have broken down below the 200-day EMA quite significantly.

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.

Gold markets got absolutely hammered on Monday to reach down towards the 50-day EMA at the $1807 level.

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 markets initially tried to rally on Friday but gave back some of the gains to dip just below the $1850 level.

Gold markets have fallen on Thursday but remain within the basic consolidation area that we had been in for a while.

For the second day in a row, gold is stabilizing around $1870 after recent sell-offs that pushed the price of gold to $1850 in this week's trading.

Gold markets rallied significantly on Wednesday as we continue to see a lot of bullish momentum.

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.

The gold markets initially rallied on Tuesday but sold off quite drastically to show signs of exhaustion.

The bullish performance of gold continues despite the strength of the US dollar.

The gold markets have fallen a bit on Monday reaching down towards the $1860 level.

Gold futures continued to rise, benefiting from a combination of a weak US dollar and rising inflation fears.

Gold markets initially fell on Friday but found buyers underneath to turn things back around and look very strong.

The gold markets have rallied significantly on Thursday as we continue to see gold markets race higher due to the idea of fighting inflation.