Gold Price Forecast – Gold Markets Bounce From the 200-Day EMA

Gold Price Predictions Video for 28.02.23

Gold Market Technical Analysis

Gold markets had fallen rather significantly during the trading session on Monday, but then turned around as we hit the 200-Day EMA. The 200-Day EMA is of course an important indicator that a lot of people pay close attention to, so with that being the case it’s likely that the market may try to bounce somewhat significantly from here, as not only does the 200-Day EMA come into the picture, we also have quite a bit of noise when you look to the left on the chart. There’s been a lot of interest in this area in the past, and the selloff has been somewhat significant. With that, one would have to wonder whether or not the buyers come back in order to pick up “cheap gold”, which does appear to be the case so far.

One of the biggest things working against gold has been the fact that the US dollar has been rather strong as of late, and that of course does come into the picture. With that, I think you have to keep an eye on the US Dollar, but beyond that you also have to pay attention to interest rates, because they have been spiking quite a bit over the last couple of weeks, especially in the 2-year which being the short end of the curve is something that the Federal Reserve pays close attention to.

As bond traders continue to look towards inflationary concerns, gold can be a bit of a victim at times. Ultimately, I do think we have a situation where the market eventually has to figure itself out for the longer term, but it is worth noting that we had a huge clue dear the $1900 level, as we formed multiple inverted hammers in a row and then eventually broke down.

That was after a massive 2 day selloff, which had a ton of momentum. At this point, gold needs to decide whether or not he can stay above $1800. If it cannot, it could be in trouble going forward. Gold markets have been extraordinarily volatile as of late, but most certainly have been negative. Whether or not that continues could hinge on the next couple of days.

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