Gold Weekly Price Forecast – Gold Markets Continue Choppy Behavior

Gold markets fell during the course of the week, as we go reaching towards the $1775 level. This is an area that has been supportive more than once, so it should not be a bit of a surprise that we have bounced from there again. With this being the case, it is very likely that we see more nonsense and choppy behavior due to the fact that gold has nowhere to be in general. If we can break above the most recent highs at the $1835 level, then you can make an argument for gold making a bigger move. Until then, I would not hold my breath because we have spent the last couple of months just chopping around in a very tight consolidation. Because of this, I think we have to look at this through the prism of a sideways market without any real conviction.

Gold Price Predictions Video 13.09.21

If we do break down below the $1775 level, it is possible that we go towards the massive floor at $1680. On the other hand, if we can break above the $1835 level, then we can continue to go looking towards $1900. In the meantime, as far as longer-term traders are concerned this is a market that you should probably avoid as there is no real certainly at this point in time as far as a trend is concerned, making it very difficult for longer-term traders to profit. With that, I am a bit hesitant to go “all in”, so I will simply stand on the sidelines until the market makes up its mind in tells me where it wants to go.

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