Gold Price Forecast – Gold Markets Continue To March Higher

Gold markets rallied significantly during the trading session on Wednesday, as the gold buyers came in and overwhelm down the $1700 level. The market has been very bullish for some time, and it makes sense that the $1700 level would offer a lot of support due to the fact that it is a large, round, psychologically significant figure. The candle is reaching the top of the range late in the day and it does suggest that perhaps we are going to go looking towards $1750 level, maybe even higher than that. I like the idea of buying short-term pullbacks, as I believe there is more than enough reason for gold to go to the upside.

Gold Price Predictions Video 23.04.20

After all, gold has the benefit of central banks out there flooding the markets of liquidity, which typically works in its favor. Furthermore, there are a lot of things to worry about in the global situation, and therefore it is likely that the market will seek safety, which of course benefits gold as well. At this point, I like the idea of simply buying dips and adding slightly on the way out. The $1800 level above should offer resistance, and if we can break above there it is likely that we continue going towards the $2000 level over the longer term. I have no interest whatsoever in shorting gold, because quite frankly it is in such a bullish trend. Look for value and take advantage of it. Longer-term traders are simply adding to positions as a go long, and at this point the market clearly is pointing in one direction.