Gold Price Forecast – Gold Markets Pull Back From the 200 Day EMA

Gold Market Technical Analysis

Gold markets have pulled back from the 200 Day EMA, reaching the $1845 level. If we can break down below the bottom of the candlestick, then it’s likely that we will see this market go to the $1820 level, and then the $1800 level. This market will continue to be very noisy, and therefore you need to pay close attention to the bond market as a will certainly have a major influence on where we go next. Higher interest rates will continue to weigh upon gold, and therefore we have to monitor very closely.

On the other hand, if interest rates start to fall, it may send money back into the gold market, and I do think that eventually, gold will rally quite drastically. However, in this scenario, we do not have certainty, so therefore it’s likely that the market will continue to see buyers on dips, as we continue to see value hunters based upon the $1800 level and the uptrend line that has been so important for so long.

On the upside, the $1880 level continues to be important, and if we can break above there then it’s possible we go to the $1925 level next. After that, we have a shot at reaching $2000, but that may take some time. On the other hand, if we were to break down below that uptrend line underneath, that could cause the gold market to dump, and spiral downward to the $1750 level rather quickly, and then perhaps even lower than that. Volatility will continue to be a major issue, so keep your position sizing reasonable.

Gold Price Predictions Video 20.06.22

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