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.
I mentioned in my latest technical analysis that the price of gold may head towards the 1500 psychological peak if it succeeds in testing the resistance 1462 and 1475 levels, and the 1490 resistance has already been reached.
The Gold markets initially gapped higher to kick off the trading session on Tuesday after the Americans named the Chinese “currency manipulators”, while the futures markets were closed.
For four straight trading sessions, the gold price recorded stronger gains, testing the $1,470 resistance level of in morning trades on Tuesday, despite recent gains in the US dollar.
Gold prices started the week with a stronger bullish momentum, reaching resistance at $ 1456, the highest price for six years, as global geopolitical and trade concerns intensify, often supporting investors buying safe heaven assets, notably gold.
Stronger gains for the US dollar after the Federal Reserve announced its monetary policy supported stronger losses of gold, pushing it to $1404 support level an ounce
Gold markets fell rather hard after the interest rate announcement and even leading into it on Wednesday but have found support at a crucial level underneath.
For four consecutive trading sessions, gold prices are moving in a bullish correction from the support level of $1413/ounce, gaining to resistance of $1433/ounce, and is stable around there at the time of writing.
With the beginning of this week’s trading, gold prices are trying to rebound to the top and compensate for its recent losses, reached during Monday's session to the $1428 resistance level, where it is currently setting almost at the beginning of Tuesday’s trading.
Gold markets have done very little over the last couple of days, and this makes quite a bit of sense considering that the Federal Reserve has a major meeting over the next couple of days that should continue the dovish attitude that we have seen recently.
