Gold Price Forecast – Gold markets grind higher

Gold markets continue to be choppy yet positive during trading on Thursday. The $1200 level being broken to the upside was indeed a very big event, I think at this point Gold is going to continue to try to correct itself. That should have this market looking towards the $1220 level, and then even the $1225 level after that which I see as much more important. In general, I do like this market, and have been buying physical gold. I think we are approaching a time that leveraged positions might be appealing as well, because we are starting to see the whole thing lean in one direction.

If we were to turn around and break down below the $1200 level though, that would give me a bit of pause, and have me looking at the $1190 level underneath for a potential buying area as well. I don’t have any interest in shorting Gold, unless of course the greenback starts to rally significantly again, something that it doesn’t look ready to do quite yet. Ultimately, this is a market that I think will be noisy, but it will continue to be one that offers buying opportunities on short-term charts that dip. Longer-term, if we were to break above the $1225 level, the market will probably go looking towards the $1250 level. Overall, this is a market that continues offer plenty of opportunities, but you will need to be cautious and patient when trading it. Shorting is all but impossible.

Gold Analysis Video 30.08.18