Gold Weekly Price Forecast – Gold Markets Have Strong Week But Give Back Some Of The Gains

Gold markets shot higher during the week, using the 50 week EMA as a bit of support, but perhaps even more importantly the $1500 level. At this point, the market then shot straight up in reached towards that psychologically and structurally resistive $1700 level. If the market can break above there, it can clearly go much higher and reach towards the $1800 level, and then possibly even as high as the $2000 level. I am very bullish gold longer term, but I also recognize that there is going to be a lot of volatility out there. One of the biggest problems for gold is that people have been selling gold to cover losses in other markets.

Gold Price Predictions Video 30.03.20

All of that being said, I do believe that the marketplace will probably continue to see buyers on dips in order to find some type of safety. After all, central banks around the world are flooding the markets with liquidity and that means devaluing currencies. Currencies are relative play, but gold is one thing that they all have to deal with eventually. Because of this, I like the idea of finding value on dips, and buying little bits and pieces along the way. There will continue to see a lot of volatility, but I do think that the trend is very much intact. At this point in time, I do believe that buying for value and longer-term “buy-and-hold” situations will continue to be the way going forward. If we were to break down below the $1450 level, then the market would more than likely collapse a bit.