Gold Price Forecast – Gold markets choppy for Thursday session
The Gold markets have been very choppy during trading on Thursday as we await the jobs number coming out today. The $1250 level underneath has been supported, and I think it will continue to be important overall. Market participants will continue to be very cautious about the Gold markets, as we have seen so much in the way of negativity as of late. The jobs number coming out today of course will have an influence on what happens next, and therefore I think it should be paid attention to. Further compounding a lot of trading decisions will be the fact that Friday will see American slapping more tariffs on the Chinese, while the Chinese will be retaliating without a doubt. The retaliation will of course be painted lot of attention to, and therefore I think that you should probably look for selling opportunities as the risk appetite will probably decrease.
Your capital is at risk
A break down below the $1250 level could open the door to much lower levels, with the $1240 level being the initial target, followed by a longer-term target of $1200 where I would expect to see a lot of support in this market. I think that given enough time, the market participants will continue to sell this market until we can get down to that level, which should see a massive amount of demand jumping into the market. However, if we were to break above the $1260 level, we could then go looking towards $1275 level.