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.
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.
For the first time in a row, gold prices have remained in limited ranges between the $1411 support level and the$ 1433 resistance, forming a consolidation zone that signals a move ahead, and that investors are preparing to start again.
Since the beginning of this week, the price of an ounce of gold has been subjected to sales pushing it towards the level of $1414 support at the time of writing, and last week moved the price of gold to the $ 1453 level, the highest in six years.
By the end of last week, the price of an ounce of gold reached a resistance level of $ 1453, the highest level in six years, due to increasing pressure on the US dollar, which has an inverse relation with the yellow metal.
The pressure on the US dollar, with the US interest rate cut nearing for the first time in 10 years, drove the ounce of gold price to the $ 1428 resistance level early Thursday, before settling around $ 1420 at the time of writing.