Gold Price Forecast – Gold markets continue to show signs of life

Gold markets continue to show a lot of bullish pressure, as the markets are quite sure what to do with the risk profile. Overall, the markets will probably continue to find buyers on dips, and it is worth noting that the Silver markets absolutely took off to the upside during the trading session. Because of this, Gold may have a bit of “catching up” to do, as silver gained over 3% at one point. With that, if the Gold markets continue to follow the same basic trajectory, it would make a lot of sense for the market to go back towards the top of the overall consolidation that we had been in for some time, meaning that we could go as high as $1560.

Gold Price Forecast Video 24.09.19

Pullbacks at this point in time will continue to show plenty of support, especially near the $1500 level. The 50 day EMA is just below there, so it does make sense that the Gold markets will find plenty of buyers. Beyond all of that, we also have a lot of geopolitical concerns out there that can continue to weigh upon risk appetite and therefore have people running to the relative safety of gold. We had seen a very negative gold market for some time but it seems as if the longer-term trend certainly is starting to change to the upside and it’s likely that the $1600 level will be targeted, followed by the $1800 level, maybe even the $2000 level.

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