Gold Markets Continue to See Volatility

Gold Market Technical Analysis

The gold markets have pulled back just a bit during the trading session on Thursday to show signs of hesitation. At this point, the market looks as if it is paying attention to the $1970 level, an area that had been previous resistance. By pulling back to this area, it is possible that we will see a little bit of “market memory” come into the picture.

At this point, there is a lot of noise out there, and I think that will continue to be a bit of an issue. That being said, the longer-term outlook for gold is of course bullish. At this point, I believe that the gold market probably goes looking toward the $2000 level, which is a large, round, psychologically significant figure. Having said that, the $2000 level has been broken through rather easily last time, so I think it probably only acts as a bit of a stop on the way to higher pricing.

If we were to break down below the 50 Day EMA, then it is possible that the noise underneath could cause support. The $1880 level offers the absolute “bottom of the market”, so if we were to break down below there, the market is likely to be very negative at that point. Ultimately, that would be a disaster for gold, and therefore it would raise to the 200 Day EMA rather quickly.

I think more likely than not, we will see a pullback followed by quite a bit of bullish pressure and people trying to get involved in what has been an obvious uptrend. Looking for value would be the best way going forward.

Gold Price Predictions Video 15.04.22

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