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Christopher Lewis

Gold markets rallied a bit on Friday to close out the week, showing signs of a little bit of US dollar selling around the world. Ultimately, this is a market that I think continues to see a lot of noise, and therefore I think you have a significant amount of time to get involved. That being said though, I do like the idea of buying pullbacks as it offers value that you can take advantage of. With this in mind, I do believe that it is only a matter of time before we push much higher, due to the fact that central banks around the world continue to flood the markets with cheap money.

Gold Price Predictions Video 23.11.20

That being said, we could drop as low as $1800 and still show me the same type of attitude. I would love to see the market drop down towards that area, due to the fact that the 200 day EMA sits there as well, so it is likely that a lot of people will be paying close attention. Beyond all of that, the $1800 level is where we had broken out from previously, so therefore a lot of people will be paying close attention to it as well as it is a “retest” of the previous resistance. This being the case, I like the idea of buying dips going forward but I am not jumping in with a huge positions right away.

I think that this is more or less going to be an investment that you can take advantage of over the longer term. Going forward at least a couple of years, central banks around the world will continue their bond buying purchases, and of course quantitative easing.

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

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