Gold Price Forecast January 26, 2018, Technical Analysis

Gold markets continue to go back and forth during the day on Thursday, but after the recent rally, I believe that it is simply an opportunity for the market to catch his breath before going higher. I think that the market is looking at the $1400 level above, which is the gateway to much higher pricing. If we break above the $1400 level, gold is more than likely going to go looking towards the $1800 level next. I think this happens, because the US dollar has gotten absolutely pummeled, and it should continue to be under significant pressure.

Ultimately, if we break down below the $1350 level, the market could breakdown to the $1335 level rather quickly. In that area, it should be well supported, but to be honest I would be a bit surprised to see this happen. The US dollar would have to turn around in the Forex markets, something that doesn’t look very likely to happen in the short term. Even if it does, I believe that is going to be a nice opportunity to pick up gold on the cheap. So, having said that, I essentially am a “long only” when it comes to gold, and of course the precious metals markets in general. Quite frankly, this point I don’t have any interest in shorting metals, and for me it’s only a matter of when I add, which of course is on dips and slowly. A break above $1400 has me jumping in with a larger position.

Gold Price Predictions Video 26.01.18