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.
At the end of last week's trading, the XAU/USD gold price succeeded in rebounding upwards with gains extending to the resistance level of $1930 per ounce.
The gold market found itself in a state of flux during the recent Wednesday trading session, caught precariously between the 200-Day Exponential Moving Average (EMA) below and the 50-day EMA above.
The selling pressure on gold increased in light of the continuation of the positive momentum of the US dollar from the announcement of the US inflation reading being stronger than expected.
The gold market experienced some initial dips during Wednesday's trading session, finding itself trapped between the 200-Day Exponential Moving Average below and the 50-Day EMA above.
The continuation of the strength of the American dollar increased the losses of the gold price XAU/USD, which fell to the support level of $1907 per ounce.
The gold market saw a modest decline during the early hours of Tuesday, finding itself ensconced between the 50-day Exponential Moving Average above and the 200-day EMA below.
Gold futures decreased as the shortened trading week began due to the American holiday and decreased towards the level of $1950 per ounce.
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