Gold Price Forecast – Gold Markets Continue to Find Buyers

Gold Markets Technical Analysis

Taking a look at the gold market you can see that gold has shown itself to be rather positive in the early hours on Wednesday as we are trying to take out the highs again. The question, of course, now is whether or not we can.

It will be interesting to see how that plays out. But as things stand right now, I think you’ve got a situation where gold will continue to be one of these markets that you’re buying dips in. After all, there are plenty of geopolitical issues out there that could come into the scenario. And then, of course, you have interest rates around the world are more likely than not falling as central banks continue to look likely to start cutting.

The massive move higher has been somewhat unprecedented. So we’ll have to see whether or not we can continue to go higher or if we’ll have to pull back. There’s also the third possibility that maybe we have to go sideways at this point, I have no interest whatsoever in trying to short this market because it is so strong. I would be interested in buying down to the $2,075 level, which was the previous resistance barrier.

And that’s an area that I think has a lot of market memory attached to it. In that environment, I think a lot of value hunters would get involved and more likely than not really push this market to the upside. Either way, I’m just watching daily to see what the daily candlestick looks like and when I get my next signal to get long.

Gold is not something you can sell in this environment, as it is so strong, and quite frankly, there are so many reasons out there to think that it will continue to go much higher. Given enough time, I think this is a situation where we continue to see a lot of noise, but ultimately, anytime it pulls back, you have to look at it as a potential buying opportunity.

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