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 an ounce of gold ended the 2021 trading year, stable above the psychological resistance level of 1800 dollars, and down to the resistance level of 1829 dollars an ounce.
Gold succeeded in launching towards the resistance level of $1820 this week, its highest in over a month, but the recovery of the US dollar yesterday caused rapid selling that pushed gold towards $1789 before settling around $1805 as of this writing.
The recent decline in the price of the US dollar helped the gold market to rebound upwards, reaching the $1820 resistance before the settling around $1805 as of this writing.
Despite the state of optimism regarding the new COVID variant and risk appetite, gold prices rebounded higher, stable around $1811, near its highest in a month, amid the decline of the US dollar.
Gold prices failed to maintain their recent gains, reaching the resistance level of $1815, then selling off to the support level of $1785, where it has settled as of this writing.
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