Gold Markets Continued Downward Slope

Gold markets have fallen again during the trading session on Friday, as we continue to see a lot of negativity. At this point, it looks like we are going to break down and try to have sliced through the $1775 level. If we do, it is very likely that we would see a further break down towards the $1750 level. Breaking down below that level would of course open up fresh selling, but at this point in time it is likely that we will continue to see a lot of back and forth and choppy behavior more than anything else. Because of this, it is probably going to be more skewed towards intraday trading than anything else, so you need to keep track of those short-term charts.

Gold Price Predictions Video 31.01.22

Gold of course has a high sensitivity did not only the US dollar but also US rates, so you will need to keep that in mind as you are trading it as well. Gold does tend to be a very fickle market, so be cautious about risking too much. That being said, there is further upside compared to the downside on short-term charts in this range, but if we break down below the $1750 level, we will probably break down quite significantly at that point. If we do, then gold is probably done for a while. Keep in mind that interest rate sensitivity is a big problem as well, so all things being equal I think gold is probably going to continue to struggle in general.

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