FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
62,046,060Confirmed
1,450,125Deaths
42,833,560Recovered
Fetching Location Data…
Advertisement
Advertisement
Christopher Lewis
Gold

Gold markets went back and forth during the trading session on Friday but ultimately settled on a green candle, showing that we still have plenty of buyers underneath. Ultimately, I believe that the market goes looking towards the $1750 level, and then the $1760 level. Ultimately, this is a market that will continue to benefit from the central banks around the world doing everything they can to loosen monetary policy.

Gold Price Predictions Video 25.05.20

Break above the $1800 level is probably in the cards eventually, but it is obvious that we are going to have to work rather hard at doing so. Buying on pullbacks continues to work especially near the $1700 level which will be crucial. Breaking down below there, we have the 50 day EMA sliding higher as well, and therefore I think it is ultimately an opportunity to get a bit of value in what is a longer-term uptrend. If we were to break down even further, I would simply look for buying opportunities all the way down to $1600 as there are far too many things working in the favor of gold going forward, with perhaps the lone exception being the fact that the US dollar will continue to stay extraordinarily strong. Having said that, it is possible for both gold and the US dollar to go higher at the same time, so get that correlation out of your head if you think it is possible.

Looking at this chart, I fully anticipate that we are going to break out to the $2000 level over the longer term, and at this point in time it is likely that we will see a lot of choppy behavior, but you should see plenty of buying opportunities going forward.

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US