Gold Price Forecast March 14, 2018, Technical Analysis

Gold markets have been very noisy during the trading session on Tuesday, as we have seen so much in the way of volatility in what is typically a very volatile market. Ultimately, I believe that the buyers will return every time we dip, and that longer-term I do like the idea of gold. However, I recognize that there is going to be a lot of risk concerns out there, and of course the volatility will only pick up. The market participants continue to be very skittish, and that of course makes gold very difficult to deal with if you are highly levered. However, I like the idea of picking up gold in small increments, because eventually I do think that we go higher. The markets have been very noisy, but we also seem to have a bit of a “floor” underneath at the $1300 level.

If we were to break above the $1330 level, that would free the market to go towards the $1340 level, and then eventually the $1350 level. Given enough time, I think that buyers will continue to push gold higher, and this will be especially true if the US dollar continues to struggle as it has. I like the idea of gold going towards the $1400 level longer term and breaking above it as it should allow the market could then go heading towards the $1800 level in a “buy-and-hold” scenario. I have no interest in shorting this market anytime soon, and I believe that we continue to see an overall positive backdrop for gold.

Gold Analysis Video 14.03.18

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