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.
In the last hours of 2020 trading, the price of gold received support from investors abandoning the US dollar, which usually has a negative correlation to the yellow metal.
The price of gold received support from the USD's decline and tried to break through the level of psychological resistance at $1900 an ounce, which it reached at the beginning of this week’s trading.
The price of an ounce of gold pushed to the $1900 resistance at the beginning of this week's trading, but quickly retreated to the $1869 support before stabilizing around the $1879 level as of this writing.
Selling operations by investors to close 2020 contracts contributed to stopping gold gains that pushed it at the beginning of this week’s trading to the resistance level at $1907 an ounce.
