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.
Gold futures ended the last trading week above $1,850 an ounce, but prices fell for the third consecutive week as the market prepares for an additional hike in US interest rates.
The continued strength of the US dollar was sufficient for further downward pressure on gold prices, XAU/USD, with losses towards the support level at $1830 an ounce.
The price of gold continued in the downward correction with losses extended to the support level of $1850 per ounce, the lowest price for more than a month.
Gold markets and try to rally during the trading session on Thursday but struggled again as we continue to see a lot of resistance above the $1880 level.
After Jerome Powell's statements, which calmed the pace of the US dollar's gains, the gold futures XAU/USD achieved lukewarm gains reaching the level of $1884 per ounce.
Gold markets initially tried to rally during the trading session on Tuesday but gave back gains as we continue to see plenty of resistance near the $1880 level.
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