Gold Price Forecast – gold finding support at crucial level

Gold markets initially fell during the day on Friday but did find enough support to bounce towards the $1255 level as a record this video. The market looks likely to continue to go higher, but we need to clear the $1260 level because it triggers off a longer-term trade on the weekly chart. That would be breaking the top of the hammer for the week, and that of course is a very bullish sign. I think that the market is finally starting to find value hunters, and with the US dollar looking as if it is going to roll over against the EUR, the British pound, and the Australian dollar, it’s likely that the gold markets will act the same way.

Short-term pullback should be thought of as buying opportunities, and less we break down below the $1240 level which would be a significant break of support. At that point, I anticipate that the market would go looking towards the $1225 level, and then the $1200 level. Remember that this market is going to be extraordinarily sensitive to the US dollar, especially in these trade tariff times that we live in, so this market will course be very volatile. Therefore, I believe in treating small positions, perhaps on the CFD market, and then adding as we go along. The other route of course is to take physical delivery, but of course that can be rather expensive, although it does eliminate the issue of leverage and losses which of course are always going to be a threat here.

Gold Prices Video 09.07.18