Gold Price Forecast – Gold Markets Continue Sideways Dance

Gold markets have gone back and forth during the course of the trading session on Thursday, as we continue to dance around the $1780 level, in a market that is trying to figure out where to go next. I think we have a range that we are stuck in, and that is probably going to continue to be an issue. All things being equal, I think that the $1820 level above will continue to be a major barrier, one that being breached would of course show a major shift in attitude, and could send gold much higher, perhaps reaching towards the $1880 level.

Gold Price Predictions Video 10.12.21

To the downside, I believe that there is a significant amount of support near the $1765 level and reaching down to the downside will most certainly send this market much lower. At that point, I would anticipate a move to the $1725 level, which after that then opens up the possibility of a serious break down towards the $1680 level. Because of this, the market is likely to see a lot of noisy behavior and therefore we will have to be very cautious about putting a lot of money into this account at any one particular trade.

As we are heading into the back half of December, liquidity will be an issue so we could get a sudden move. This is why you need to be very cautious about your position size, because we are more likely than not to see certain spikes over the next couple of weeks that could wipe out your account if you are not careful.

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