Gold Forecast: Continues to Look Very Bullish Forex trading
I think that given enough time, the gold market will probably go looking to the $2000 level, which is a large, round, psychologically significant figure, and an area that previously had been important. The $2000 level will attract a lot of attention, but ultimately, I don’t know that means anything other than a bit of psychology coming into the picture.Pullbacks now will be potentially attracted to value hunters, and people like me who are more swing traders.
A lot of this comes down to wealth preservation, and not necessarily interest rates, so I would not worry too much about the bond market. After all, gold started to rally long before interest rates cool down drastically, so this is a situation where we are probably paying attention to the US dollar more than anything else as it has cooled off.
Regardless, this is a chart that’s obvious, and there’s no need to try to get too cute with this as you should have plenty of opportunities to pick up value given enough time. At this point, patience is the name of the game, and therefore waiting for more value is probably going to be the best way going forward, and that means lower prices.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD grinds higher ahead of United States Gross Domestic ProductGold price (XAU/USD) prints mild losses around $1,925 as bulls take a breather after a five-week uptrend, especially amid a lack of traders from China
Read more »
Gold Price Forecast: XAU/USD bulls move in ahead of key events and pending Federal ReserveGold price has been a touch higher at the start of the week, digging into shorts that have positioned themselves on prospects of a move into the longs
Read more »
Gold Price Forecast: XAU/USD eyes a sustained move above $1,940 amid favorable technicalsGold ended up closing modestly lower on Friday. XAU/USD bulls need to cross $1,940 for a sustained upside, FXStreet’s Dhwani Mehta reports. Strong sup
Read more »
D.C.-area forecast: Today’s sunshine gives way to raindrops SundayThis is probably the outdoor day of the weekend. There could be a little wintry mix to start on Sunday, but it's inconsequential if so.
Read more »
Today's Tucson weather forecast: Jan. 21Get a glimpse of what the weather in Tucson will be like today:
Read more »
First Alert Forecast: Partly to mostly sunny, above average temperatures continueFirst Alert Weather: Saturday will feature a bit more sun and less wind. Our above average temperature trend continues with a high of 42. Watch JohnElliottTV's full forecast.
Read more »