Gold Price Forecast – Gold Markets Break Major Resistance

Gold markets continue to look very bullish, as we have seen a major push higher during the trading session on Wednesday. We have reached all the way towards the $1825 level rather early in the session, showing a clear break out of the massive barrier underneath. The $1800 level was difficult to get above, but now that we have cleared it, it is likely that we will continue to see gold be one of the favored trades by institution and retail traders alike. Gold has much further to go, due to a whole plethora of issues that could continue to bring the buyers in.

Gold Price Predictions Video 09.07.20

The initial reason of course is the fact that central banks are printing as much money as they can. This of course is very bullish for gold in general, so do not be surprised at all to see it simply take off to the upside yet again. At this point, I like the idea of buying gold every time it dips and taking advantage of it being cheap at that point.

Longer-term I believe that this market is probably going towards the $2000 level but that is going to take a significant amount of time. That being said, between now and then you can rest assured that I will be buying every dip as they occur, probably in increments of about $10 or so. I have no scenario in which a willing to sell gold at the moment, so that has an even factored into my thinking recently. I think at this point it is obvious that the buyers are still in control.

For a look at all of today’s economic events, check out our economic calendar.