Gold Price Forecast – Gold markets very choppy during jobs number

Gold markets chopped significantly during trading on Friday after the jobs numbers came out, throwing the currency markets into a whirlwind of volatility. That is nothing new, and as the markets are trying to settle down it seems as if we are approaching the $1205 level again. This is an area that continues to attract a lot of attention, so I think at this point it’s likely that we continue to go higher. Overall, I believe that the Gold markets will continue to be moved by the greenback more than anything else, and with all of the global headlines recently the greenback continues to find plenty of buyers. Looking at this market, looking at this market, I think that short-term range bound trading between the $1200 level and the $1210 level makes a lot of sense. I think at this point, we will more than likely continue to see more range bound actions, as there is very little in the way of clarity when it comes to the global markets right now.

If we were to break down below the $1195 level, that would be a very negative sign. Until then, I think that range bound back and forth trading is probably about as good as this gets, making me a bit cautious about putting a lot of money to work, but I certainly can make an argument for putting a little bit to work occasionally and in both directions.

Gold Prices Video 10.09.18