Gold Price Forecast – Gold Markets Starting to Stabilize

Gold markets gapped higher to kick off the trading session on Thursday, went back and forth, to hang around just below the 20 day EMA. The 20 day EMA of course is a large, round, psychologically significant figure that people will be paying attention to. Ultimately, this is a market that will continue to show signs of resiliency, because quite frankly gold should rally in the face of all of this fear. Most of the selling has been due to forced liquidations as traders are trying to cover bad bets in other markets. That being said, if we can break above the $1500 level on a daily close, I think we go looking towards the $1550 level, and then possibly the $1600 level.

Gold Price Predictions Video 20.03.20

The $1450 level underneath is massive support, but if we can break down below that area, it’s likely would go down to the $1400 level next. At this point, I believe that with all of the central bank easing and monetary policy moves that we are seen, it makes quite a bit of sense that the gold market should get a bit of a bid. I do believe that eventually this market continues to rally due to the fact that there is a lot of uncertainty and liquidity out there sloshing around that will eventually cause some type of inflation. In fact, the longer-term thesis is that central banks around the world are going to let economies run somewhat high after this massive hit. This is more of an investment then to trade though, so keep that in mind.