Gold Price Forecast – Gold markets find buyers again

Gold markets pulled back a bit during the trading session on Wednesday initially, but continues to find buyers on dips as we have seen more than once now. It looks as if we are trying to build up the necessary momentum to break through a massive barrier above. At this point, I believe that you should not think about shorting Gold, because quite frankly it is so strong and of course we have a very soft Federal Reserve that will continue to lift the precious metals markets.

Gold Price Forecast Video 14.02.19

Looking beyond the interest rate situation, we should also keep in mind that the geopolitical situation out there continues to cause a bit of trouble for traders as well, using the precious metals markets as a way to protect wealth. I think that is part of what we are seeing here, and eventually we could break above the $1350 level, which for me is what’s necessary to have much higher pricing longer term. I believe pullbacks will continue to be bought, as I see significant support at the $1300 level underneath. I also see a lot of support at the $1275 level, so it is more than likely a scenario where you simply pick up value when it appears. I think that holding onto physical gold is a good way to take advantage of this, but then again if you can add slowly in the CFD market if you have that available. I think it’s going to be very noisy, but ultimately I anticipate that we will have a bit of a blow off to the upside.

Please let us know what you think in the comments below