Gold Price Forecast March 22, 2018, Technical Analysis

As I record this video, we are awaiting the announcement out of the Federal Reserve, and it’s obvious that we have a lot riding on this. However, it’s likely that the longer-term outlook is still bullish, and I think that we will have buyers stepping in on pullbacks and that’s exactly how I plan to trade this market. At this point, I think this is a little bit of front running ahead of the announcement, which of course will give us an idea as to how many interest rate hikes the Federal Reserve may do this year. The market is questioning whether there will be 3 or 4 hikes this year, so it’s likely that we will continue to see a lot of choppiness, but I think that in the end, gold will rally, especially if it seems as if there are only 3 interest rate hikes this year. I believe there is a significant amount of support underneath at the $1300 level, and I currently look at that as a bit of a “floor” in the market. I think that the pullbacks will continue to be looked at as value, and I continue to buy these dips in the market.

Gold Price Forecast Video 22.03.18

If we were to break down below the $1300 level, I think that the market will find plenty of support below at the $1275 level as well. Because of this, I don’t have any interest in shorting gold, and I think that there are enough geopolitical concerns out there to make sure that this market will eventually.