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 strength of the US dollar continues to negatively affect the performance of gold prices, which fell to the support level of $1727 before settling around $1737 as of this writing.
Despite the gains of the US dollar, the price of gold succeeded in moving towards the $1755 resistance level during last week's trading, before closing steadily around $1745.
Gold markets have been at the mercy of the bond market for some time now, and it now looks like more of the hijinks over there is starting to affect the market over here.
The US dollar was negatively affected by the Federal Reserve's monetary policy decision and the statements of Chairman Powell, which contributed to an upward rebound for gold.
The price of gold has remained stable between the $1700 support level and the $1740 resistance level, waiting for enough momentum to move higher or resume recent downward pressure.
The gold markets initially looked very bullish during the trading session on Thursday but gave back a significant amount of the gains to turn around and form a massive shooting star.
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