Gold Price Forecast – Gold Markets Looking Buoyant

Gold markets initially dipped lower during the trading session on Monday but found enough buying pressure underneath the $1700 level to turn around in recapture it by the time the Americans came on board in the open auction session. At this point, it looks as if gold is going to continue the longer-term uptrend so I remain bullish, and quite frankly there are quite a few reasons to believe that the gold markets will continue to attract attention, not the least of which will be the concerns of investors around the world.

Gold Price Predictions Video 21.04.20

Pullbacks at this point should continue to attract quite a bit of attention, and I believe that the 50 day moving average which is sitting just below the $1650 level will continue to attract a certain amount of attention as well. That being said though, I think that it is only a matter of time before we are going to go looking towards the $1800 level though, and then perhaps even the $2000 level longer term. Either way, I have no interest whatsoever in trying to short this market because quite frankly there isn’t enough “risk on” out there to drive this pair much lower.

Ultimately, central banks around the world continue to throw money around and liquefy everything, so it does make sense that we would see plenty of bullish pressure over the longer term, because quite frankly the world is a bit of a mess right now, so having said that it makes sense that we continue to buy dips, and even if we do see a break down from here I will simply be looking for buying opportunities at lower levels.