Gold Price Forecast – Continue to Be Choppy

Gold markets have gone back and forth during the course of the trading session on Thursday as we continue to chop back and forth based upon the recent US dollar moves, and as a result it makes sense that we are a little bit confused as to where we go next. The market has been rather negative overall, as the gold markets have lost roughly 17% over the last several months but has stabilized just a bit of the last week or so. All things being equal, this is a market that I think is probably going to test the lows again, especially if we continue to see interest rates in America rise.

Gold Price Predictions Video 26.03.21

As long as that is going to be the case, I believe that it is only a matter of time before we break down to a fresh low. A breakdown below that low opens up the possibility to move towards the $1700 level. At this point, the market is likely to see a lot of noisy behavior, so I would be very cautious about putting too much money into the market in one shot. However, if we do break down to a fresh, new low I would not only be short, but I would be adding more to the position.

As far as a bullish position is concerned, I would wait until we clear the 200 day EMA in order to start buying. At that point I would expect that the market would go much higher. In general, this is a market that I think still favors the downside regardless, so all things being equal I am looking for selling opportunities.

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