Gold Price Forecast August 31, 2017, Technical Analysis

Gold markets have done very little during the day on Wednesday, as it looks like we are trying to accumulate a bit of momentum after the break out. Ultimately, this is a market that I think will find a bit of a “floor” at the $1300 level, and if we can stay above there it should continue to attract buyers. If we were to break down below the $1300 level, that would be very negative. Ultimately, this is a market that should continue to see volatility, and any sign of geopolitical concern will more than likely singled higher. The US dollar has been beaten down significantly, and that could be what we see longer-term as well. If that’s the case, gold should eventually grind its way to higher levels, with the $1350 level being a target initially, and then the $1400 level.

Gold Price Video 31.8.17