Gold Price Forecast – Gold Markets Break Out

The gold market broke higher during the trading session on Thursday, heading into the Good Friday holiday. While there are probably some CFD markets out there still open, the futures market will be needed to match up pricing eventually, but at this point it’s very likely that based upon the action we are going to continue to go further. In fact, the fact that we broke above the $1750 level is a very good sign for a continuation of the trend. The $1800 level above would be the initial target, and then eventually the $2000 level given enough time.

Gold Price Predictions Video 13.04.20

Pullbacks at this point should continue to offer plenty of value, and I also believe that the massive support sits near the $1690 level. Obviously, the $1700 level is psychologically important as well, so I look at pullbacks as an opportunity to go long of a market that is obviously a very bullish. We are in an uptrend, and that certainly doesn’t look like it’s going to change anytime soon. Gold will continue to get a boost due to the fact that the Federal Reserve has decided to throw over $2 trillion at the market yet again, and of course as we destroy the value of fiat currency, that should lift the value of hard assets such as gold. That being said, I do believe that gold is going to continue to be the “go to” market for a lot of traders out there. Furthermore, there is also a lot of concern about global growth out there and anytime there is a safety concern, gold does fairly well.