Gold Price Forecast – Gold markets holds steady on Friday

Gold markets continue to go sideways, and that’s a good sign as it looks like we are trying to find some type of catalyst to either go higher or pull back a bit. I believe that the market continues to be very skittish, but I do like Gold longer-term. I think that everybody should have a little bit of gold in their portfolio, and I think that the next target is probably the $1250 level. Pullbacks at this point should be supported down to at least the $1200 level, unless of course we get some type of massive surge in the greenback, but right now I think we are at extremes and therefore it makes sense that we would continue to see Gold offer a nice longer-term trade. For shorter-term traders, I think that the $1220 level underneath is massive support. I think bounces from that level could be a nice short-term buying opportunities, but if we were to break down below the $1220 level, then I think the next level to watch as the $1210 level from a short-term perspective.

Ultimately, Gold it tends to move inversely from the greenback, so pay attention to the EUR/USD pair or the US Dollar Index which can give you an idea as to what we should see here. I think we are simply waiting to see what happens in the currency markets to decide what we’re going to do it in the gold market.

Gold Analysis Video 22.10.18