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 continuation of the gains of the US dollar brings more losses to the gold price, which affected the support level of $1931 an ounce, at the time of writing, which is the lowest price in three weeks.
At the beginning of this week's trading, gold futures contracts for December exceeded the $2,000 mark an ounce, as investors expect the Federal Reserve and other global central banks to turn to a dovish stance towards slowing inflation.
Monday's trading session in the gold market was relatively quiet, but it revealed the metal's resilience and its potential for a continued upward trend in the long term.
Despite the strength of the US dollar after investors and markets absorbed the update of monetary policy decisions of the US Federal Reserve last week, in addition to a package of influential US economic releases.
During the latest trading session on Thursday, the gold market found itself grappling with the impact of key decisions from both the Federal Reserve and the European Central Bank.
The US dollar was negatively affected by yesterday's announcement by the US Federal Reserve, which helped the gold price to rebound upward towards the $1982 resistance level.
The US dollar’s gains stopped before announcing the US Federal Reserve’s policy decisions later today, which allowed the gold price to rebound upwards, with gains that affected the $1971 resistance level, which is stable near it at the time of writing the analysis.
The gold market recently experienced a temporary retreat following a period of bullish pressure, prompting investors to closely examine the recent momentum.
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