Gold Price Forecast – Gold Markets Finding Buyers

Gold markets continue to be an absolute mess as we initially fell during the trading session on Tuesday only to turn around and form a bit of a hammer. That of course is a positive sign, and the fact that it formed at the 200 day EMA is a good sign as well. With that in mind I think that it is only a matter of time before the market breaks to the upside and goes looking towards the recent range. The $1550 level is an initial target of buying, but I think we probably break above there given enough time as well. Ultimately, it’s probably only a matter of time before we try to get back towards the highs as there is so much uncertainty out there, and of course eventually markets will calm down enough to perhaps return to the previous trends.

Gold Price Predictions Video 18.03.20

A lot of the selling in gold has been due to “forced liquidation” as traders will have to cover losses elsewhere. With that in mind, we may be getting close to people trading what they want to trade instead of what they absolutely have to trade. If that’s going to be the case then it’s likely that gold will continue to attract a certain amount of attention, as there is so much fear out there. The “safe haven” trade may return, which of course is something that makes a bit more sense in the gold market. With that in mind, I am bullish of gold again, now that the dust has started to settle in this marketplace.