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.
After the price of gold fell to the $1480 support, the yellow metal is trying to recoup its losses by bouncing back to the $1494 resistance, which is where it is stable at the time of writing.
The US dollar returned to rise after better results from the US jobs report, and increased investor risk appetite with reassuring remarks from both sides of the global trade war that the deal was near.
For three consecutive trading sessions, the price of gold moved up to the $1516 resistance, taking advantage of the pressure on the US dollar, which is inversely moving with the yellow metal.
Gold markets initially fell during the trading session on Friday as the jobs never came out stronger than anticipated but given enough time, we have seen the markets come back and end up forming a hammer.
Gold prices fell for the third day in a row, and the price of an ounce of gold reached the $1483 support, amid continued optimism over the US-China trade deal.
