Gold Price Forecast – Gold Markets Bounce From 50 Day EMA

Gold markets are all over the place of the last couple of days, but it should be noted that the turnaround during the trading session on Tuesday is a good sign. That being said, the markets sold off so rapidly on Monday, that one has to be very cautious at this point. That being said, the 50 day EMA and the 200 day EMA sits just below where we bounced from, and that of course is a very bullish sign. Ultimately, I think what we have got is a scenario where we either bounce from here or we do not. Anything at this point in time it has to be looked at through the prism of volatility, and whether or not it is picking up.

Gold Price Predictions Video 05.01.22

As money comes back to work from the holidays it will become much clearer, we want as to where we are going. Ultimately, the markets will have to pay close attention to the idea of the push and pull of the greenback, interest rates, and of course gold itself. All things being equal, I think this is a market that will attempt to get back to the $1830. If we break above the top of the Monday bar, this thing could really take off. On the other hand, if we break down below the $1775 level, then it is possible that we could break down a bit. Nonetheless, I see this as a scenario where we have a big fight on our hands, so be interesting to see how this plays out over the next several days as we head towards the jobs number.

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