Gold Weekly Price Forecast – Gold Markets Continue the Grind Higher

Gold markets have had a weekly bullish candlestick form, as we continue to grind towards the upside. The shooting star from the previous week show that there is a lot of exhaustion above the $1800 level but quite frankly the fact that we have dog right back into the candlestick tells me that there is a lot of pressure trying to shoot this market straight up in the air. Ultimately, this is a market that I think will eventually go looking towards the $2000 level, but it will probably take quite a bit of momentum and time to get there. A pullback from this area could send this market looking towards the $1750 level where I would see a lot of support there as well. All things being equal, gold is getting a boost higher due to a whole plethora of reasons.

Gold Price Predictions Video 20.07.20

Central banks around the world continue to loosen monetary policy and that of course is good for gold, as it continues to see a lot of buyers looking to get a bit of safety into their portfolio, and of course running away from the central bank quantitative easing that is hurting a lot of fiat currencies, with a special emphasis on the US dollar as the Federal Reserve has been flooding the market with cheap dollars. The question now is whether or not the fear trade comes into play as well as sending this market higher. Were in an uptrend, and there is no need to fight that. Look at pullbacks as an opportunity to pick up gold “on the cheap.”

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