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Category: Forex News

Gold Price Forecast – Gold Markets Continue to Look Bullish

The 2050 level underneath, I think, continues to be a hard floor. Really at this point in time, I do not know that we will visit the $2,000 again, due to the fact that it has seen such a huge shot higher. If we can break the highs of the session on Friday, at essentially 2088, then the market is probably ready to rip higher in general. That doesn’t mean it will be easy or in a straight line, but it will continue to go higher.

In the meantime, though, I like the idea of looking for short-term pullbacks to take advantage of and get value. There is no scenario right now that I can foresee at least that I would be a seller of this market. It remains strong. And quite frankly, I think you also have to keep in mind that central banks around the world, not only loosening monetary policy, but also being net buyers of gold, has a major influence on this market as well buying the dips every chance I get.

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


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