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 price of gold has been trying to rebound upward, but the gains of the bounce did not exceed the $1730 level, instead stabilizing around $1725 in this week's trading.
After the bears pushed the price of gold to the $1678 support level during yesterday's trading, gold has returned to settle around $1713 as of this writing.
The continued strength of the US dollar and bond yield gains contributed to the collapse of the price of gold to the $1679 support level before stabilizing around $1685.
Gold markets have been absolutely hammered of the last several months, and unfortunately it does not look like April was going to be much better, at least not initially.
The continued strength of the US dollar, supported by the pace of vaccinations and stimulus plans, contributed to bearish pressure of gold prices, which reached the support level of $1704, a 2-week low.
In the face of factors that increase gold's gains, the US dollar strengthened, which explains the weakness of gold's attempts to rebound higher during last week’s trading.
The price of gold is trying to capitalize on the risk aversion that has been affecting global financial markets recently, but the recovery of the US dollar stopped its gains from crossing the $1745 barrier.
Usually, the price of gold moves higher in times of uncertainty and risk-aversion, but this time the price of gold collided with the strength of the US dollar.
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