Gold Price Forecast March 20, 2018, Technical Analysis

Gold markets have been very choppy during trading on Monday, as traders came back from the weekend. Stock markets in general continue to struggle, and I believe that will be an issue in the short term, as there are a lot of protectionist concerns around the world. Ultimately, this is a market that looks very bullish to me longer-term though, and gold does tend to perform a bit better in a nervous environment as people tend to use it as a safe haven. I believe that market participants of the value mindset will continue to look at the area we are in as a potential value play.

Gold Price Video 20.03.18

Because of this, I’m looking to buy gold, but I’m not looking for some type of massive rally. Instead of that, I anticipate that we will more than likely see a lot of choppy action, perhaps arise towards the $1325 level, followed by $1340. I still believe that the $1300 level acts as significant support and should continue to do so going forward. The market certainly seems to attract a lot of buying in this region, and I think that will continue to be the way this market plays out longer term. If we can ever break above the $1400 level, I would be more than willing to hang onto a trade for the long term, and of course as most traders do, I buy physical gold. If we were to break down below $1300, the next level of support I see is $1275.