Gold Price Forecast – Gold Markets Continue to See Noisy Behavior

Gold markets have rallied significantly during the course of the trading session on Thursday to reach towards the 50 day EMA. At this point, it looks like the market is going to continue to see a lot of noisy behavior, but now the question is whether or not we can break through all of these major resistance barriers? The 50 day EMA is the first one, and then after that we have the 200 day EMA. Further pushing the envelope of resistance is the $1800 level, which is a large, round, psychologically significant figure. Because of this, I think it is probably only a matter of time before we see some type of selling.

Gold Price Predictions Video 17.12.21

If we break above the $1820 level, then it is likely that we go looking towards the $1850 level, which extends towards the $1875 level, and what I would consider to be a large resistance “zone” that might be difficult to overcome. With this, I think it is only a matter of time before we see a bigger move, but whether or not it is to the up or downside remains to be seen. Between now and the end of the year, it is very likely that we will see a lot of choppy behavior, so staying in a bit of a range could make a certain amount of sense as well as traders have nowhere to be. Ultimately, this is a market that I think you will probably have to pay close attention to the US dollar, but the biggest move of the year are probably just about over with.

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