Gold Price Prediction – Gold Markets Rally Once More

The gold markets have risen again on Monday as we continue to attempt to reach $1750. Despite this, there is still a great deal of noise in the environment.

Monday’s trading session witnessed a modest increase in the price of gold as global events continued to be highly volatile. Ultimately, the gold market attempted to reach $1,750, as it has done numerous times in the past. The 50-day exponential moving average (EMA) above continues to drift downward, which I believe will present a bit of a shorting opportunity.

Monday’s trading session resulted in a slight depreciation of the U.S. dollar, so you should pay close attention. This prompted gold to increase, but I honestly believe it’s only a matter of time before sellers enter the market and push it down. Nonetheless, one could also make an argument for a “double bottom” underneath. If we are able to break above the 50-day exponential moving average, then it is probable that we will see a larger move. Ultimately, the $1800 level may also be a target with the 200-day exponential moving average.

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

Ultimately, this will depend on the U.S. currency and interest rates, as a strengthening of both would be negative for gold. In recent times, the negative association has been particularly high, so bear this in mind. If you intend to trade in this market, you must closely monitor the 10-year yield and the US Dollar Index. If we were to reverse direction and break below the $1680 mark, it would raise the likelihood of a severe breakdown at that time.

Leave a Comment