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 bulls succeeded in grabbing the $1810 resistance as demand for safe-haven assets rose after the dollar fell following data which showed a significant slowdown in US GDP growth in the third quarter.
Gold markets initially rally during the trading session on Thursday to reach towards the same resistance barrier that we have been fighting for several sessions.
With the stability of the US dollar and the rise in US Treasury bond yields, the price of gold fell to the support level of $1783, as these factors led to curbing the demand for the yellow metal, which is considered a safe haven.
The gold market has rallied significantly on Monday to reach towards the same resistance barrier that we have tested over the last couple of trading days.
Friday showed the gold's instability, as it jumped to the $1814 resistance level, then quickly collapsed to the $1783 support and started this week around $1800.
The gold markets have gone back and forth during the trading session on Thursday, as we slammed into the major downtrend line that I have drawn on the chart.
The recent decline of the US dollar allowed the price of gold to move higher and stabilize around the $1790 resistance level for 3 trading sessions in a row.
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