Gold Price Forecast – Gold Markets Continue To Show Massive Strength

Gold markets have gapped a bit to kick off the week on Monday, in reached close to the $1700 level. The $1700 level of course is a large, round, psychologically significant figure that will attract a lot of attention. The market has pulled back from there are a bit though, and as a result it looks like the market is ready to try to pull back a bit. Quite frankly, being outside of the Bollinger Band indicator suggest that we are most certainly were bought, and by simply eyeballing the market, I can make this suggesting that we had reached three standard deviations away from normalcy. Because of this, the market certainly needed to pull back a bit.

Gold Price Predictions Video 25.02.20

This doesn’t mean that I would be a seller of gold, rather I’d be looking at pullbacks as an opportunity to go long. The 20 SMA is starting to reach towards the $1600 level, so I think at this point you can look at it as essentially a “floor” in the market. The gold markets will continue to get a bit of a boost due to the fact that there is a lot of fear around the world, but it should also be noted that monetary policy around the world has been very loose and looks to continue to be so due to the virus, so at this point there’s no reason to think that gold won’t continue to rally over the longer term. In other words, this is a “buy on the dips” type of situation. Ultimately, I do believe that you can have plenty of opportunities to pick up value on dips, as this market continues to be very volatile.