Gold Price Forecast – Gold markets continue to be choppy

Pay attention to the US dollar, because the greenback will of course drive where this market goes. The strengthening US dollar has worked against the Gold markets rather significantly, but over the last couple of sessions we have been somewhat range bound between the $1200 level, a psychologically and structurally important level, and the $1215 level above should be resistance. The market continues to go back and forth, and I think that short-term traders will probably continue to like this market.

If we can break above the resistance barrier, then I think that the market could go to the $1225 level, and then eventually break above there. Once we do break above there, then the market could go to the $1250 level. If we were to break down below the $1200 level, the market could go down to the $1190 level, an area that has been support and a major area of demand recently. This market continues to be choppy to say the least, so I would trade it in small positions unless of course you are talking about physical gold, which I think is going to end up being a very wise long-term investment. If you take the leverage out of the situation, it’s much easier to deal with. For those of you looking to player levered position I would stick to the CFD markets, because quite frankly the futures markets can cause major pain when we chop around like this. I believe that in the short term we continue to chop between the $1200 level in the $1215 level above.

Gold Price Video 04.09.18