Gold Weekly Price Forecast – Gold Markets Explode to The Upside

Gold markets rallied significantly during the week, gaining roughly $100, as the Federal Reserve continues to print currency left and right. Ultimately, this is devaluing the US dollar and we are seen the US dollar get hit against most currencies. As long as that is going to be the case, it makes quite a bit of sense that gold will continue to the upside and at this juncture I believe it is only a matter of time before gold continues to grind higher, perhaps even to the $2000 level. That was my target by the end of the year, but at this rate it could even be by the end of next month!

Gold Price Predictions Video 27.07.20

Regardless, it is difficult to buy gold at this price because it does not necessarily any type of particular value. We have had a bit of an explosive move to the upside, not only here but also in the silver markets, and those things do tend to pull back. I think you will probably get an opportunity to pick up a bit of value underneath, perhaps near the $1850 level, perhaps even lower than that and down at the $1800 level. Either way, you cannot “pay up” for gold right now, despite the fact that it is an obvious long-term opportunity. Remember, you need to look at this like you do anything else and try to find value when paying for something. You need to find something “on sale” if you get the opportunity, and that will most certainly be the case here in this particular market.

For a look at all of today’s economic events, check out our economic calendar.