Gold Price Forecast August 18, 2017, Technical Analysis

Gold markets initially shot higher during the day on Thursday, reaching towards the $1290 level again. However, we have pulled back slightly, as it is getting dangerously close to the top of the overall consolidation that the market has been stuck in for quite a while. Because of this, I think there is a certain amount of downward probability to the market. However, if we did finally break above the $1300 level, that would be an extraordinarily bullish sign. I think were more likely to drop from here though, as we continue to chop around. Having said that, I would not put a large position on, because the volatility remains so extreme at times. The markets will be a little thinner than usual, because of the holiday season as well, only adding to the issues.

Gold Price Predictions Video 18.7.17