Gold forecast for the week of August 10, 2015, Technical Analysis

Gold markets as you can see went back and forth during the course of the week as we continue to hang about just below the 1100 level. However, this is the wrong time year to expect significant moves but if we do get a break above the 1100, we would be looking for selling opportunity somewhere closer to the 1150 level. We do believe that gold goes lower, probably heading down to the 1000 level given enough time. We have no interest in buying this market at all, as the US dollar continues to strengthen.