Gold Price Forecast – Gold Markets Pressuring Resistance

Gold markets have gone back and forth during the course of the trading session on Tuesday as we continue to look at the $1835 level as a major barrier. If we can break above there, then it is likely that we could go looking towards much higher levels, perhaps more of a “buy-and-hold” scenario as we would go more than likely see $1900 targeted. That being said, the market is likely to see a lot of trouble in this general vicinity, so do not be surprised at all to see a bit of a pullback. Whether or not it is a major turn around and sell off or if it is simply the market trying to build up enough momentum to go higher remains an open question, but I would pay special attention to the 200 day EMA underneath which currently sits at the $1795 level.

Gold Price Predictions Video 10.11.21

You also have to be very cautious about the US dollar and perhaps even more importantly, the interest rates coming out of America, because the higher they go, typically the worst gold performs. That is not always the case of course, but it is one of the indicators. Gold typically does poorly in a high growth environment, which is what the market currently sees. After all, we still have the major reopening trade going on, so although gold looks very explosive at the moment, longer term it might not be as clear-cut of a question. One thing you do have to keep in mind is that gold tends to be very noisy, so really at this point in time you need to be cautious about your position size more than anything else.

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