Gold Price Forecast – Gold markets continue to undulate

Gold markets have been all over the place as of late, because the political theater continues to be the main driver of financial markets around the world. Quite frankly, it seems as if it’s one dramatic moment after another on a daily basis, and therefore it provides a bit of support to Gold as it is considered to be a safe haven asset at times. Just below current trading, we have the $1500 level which should of course offer plenty of support and therefore I anticipate that the markets are probably going to go looking towards the buy side in that area. If we were to break down below the $1500 level, there’s also the possibility that we pay attention to the 50 day EMA which is just below there as well.

Gold Technical Analysis Video 27.09.19

In other words, I think there are plenty of technical support of levels underneath, and in a world where we are simply one Tweet or allegation away from some type of massive volatility storm, one of the most dangerous things you can do is own a levered gold position. It is because of this that I advocate owning physical gold if you can, but CFD markets can provide a bit of safety in the sense that you have the ability to measure out a smaller trade accordingly. In environments like this you can simply lose far too much money in the blink of an eye to be over levered. Continue to look for overall consolidation with an upward tilt.

Please let us know what you think in the comments below