Gold Price Forecast September 4, 2017, Technical Analysis

Gold markets rallied initially at the session on Monday, gapping higher and clearing the $1330 level. We pulled back slightly, but we continue to find buyers every time we dip. I think that the gold markets are going to go looking for the next major psychological level, at the $1350 level. I believe that given enough time, we will probably break above there as well, but right now the most important level on the chart is the $1300 level. That is an area that should now be a “floor” in the market, and if we can stay above there I feel that the market will continue to find buyers. There has been a safe haven trade going on for some time, and the North Koreans testing a nuclear bomb of course continues to keep that alive.

Gold Technical Analysis Video 05.9.17