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 gold markets initially fell during the trading session on Thursday but then turned around to show signs of life at the bottom of the consolidation area.
There is no doubt that the renewed gains of the US dollar, especially after the announcement of the strong US job numbers at the end of last week, negatively affected the gold market.
Gold futures are struggling to hold on to weekly gains after a strong US jobs report for May raised the likelihood of maintaining the Federal Reserve's approach to fighting inflation.
For the second day in a row, the price of gold is trying to resist the strong US dollar. The price of gold settled around the level of 1852 dollars an ounce at the time of writing the analysis.
Amid the recovery of the US dollar, gold prices fell to the level of 1835 dollars an ounce, starting from the resistance level of 1857 dollars an ounce during yesterday's trading session.
Gold markets did very little over the last couple of weeks, as we are trying to figure out whether or not we are going to bounce, or if we are going to break down.
Gold markets were quiet on Monday, which should not be a huge surprise considering that it was Memorial Day in the United States, and futures trading was somewhat limited.
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