Gold Price Forecast – Gold Markets Gap to the Upside to Kick Off Thursday Trading

Gold Price Predictions Video for 02.12.22

Gold Market Technical Analysis

Gold markets have gapped higher to kick off the trading session on Thursday to break above the $1800 level in the futures contract. That being said, there is a lot of noise just above it, and of course we need to pay close attention to how the market is going to close for the week. After all, it’s one thing to jump into the market and take a quick game, it’s a completely different one to hang on to a position through the weekend. With the jobs number coming out on Friday, that could also cause quite a bit of noisy behavior.

If we turn around and fall from here, we could very well fill the gap underneath, and find buyers near the 200-Day EMA. Ultimately, this is a scenario where the market is trying to figure out whether or not the US dollar is going to continue to crumble at the hands of the Federal Reserve easy monetary policy, or if we have seen the end of that correction. What’s going to matter is how they take the gold position into the weekend, as that will give you a huge “heads up” into the idea of whether or not they are going to remain bullish, or if it is going to be a short-term blast to the outside.

The gold markets will continue to pay close attention to the overall interest-rate situation, and of course with the uncertainty around the world, it’s probably better off if you wait for some type of clarity, something that hopefully we will have by close of business in New York on Friday.

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