Gold Price Forecast – Gold markets fall again on Monday

Gold markets, traditionally a safe haven, have been falling lately as risk has been disappearing. This is because we have seen so much in the way of US dollar strength, and I believe that the US dollar will continue to strengthen overall, making this market very likely to continue to go lower. We have broken below the $1250 level, which of course is a psychologically important figure, and at this point I think rallies will continue to be sold as we await trade tariffs to be slapped on China this Friday.

If we turned around broke above the $1260 level, at that point I would be convinced enough to start going long, but until then I suspect that we are very likely to continue to see sellers coming in and pushing this market towards the $1200 level, which of course has been important on longer-term charts, and of course has a certain amount of psychological importance built in. I believe that selling the rallies continues to be the way, but I do like go longer-term. I believe that plenty of long-term investors will be very interested in gold at the $1200 level, so I think that although things are rather negative currently, it’s only a matter time before the value hunters come back and take advantage of these cheap prices. I anticipate that the lower leverage positions to the upside make more sense than the leveraged ones, so futures market trading may be out of the question currently, but CFD markets could offer a nice opportunity.

Gold Price Video 03.07.18