Gold Price Forecast – Gold Markets Slightly Positive

Gold Market Technical Analysis

Gold markets have rallied slightly during the trading session on Wednesday to show signs of strength again, as we are at extraordinarily low levels. That being said, the Federal Reserve statement and of course the interest rate decision will have an impact on what we see next. Most people accept the fact that the Federal Reserve is more likely than not going to raise by 75 basis points, but Wall Street is already trying to convince themselves that the Federal Reserve is going to slow down after this, so therefore everything is great and “Happy days are here again.”

That being said, it is still going to be an extraordinarily tight monetary policy, and it’s probably going to last for quite some time. This is the trick of trading a bear market, because there is always hope out there, and therefore there is a lot of volatility as a result. Remember, gold is highly sensitive to interest rates and of course the US dollar, so you will have to pay close attention to what it does, as it is almost certainly going to be a situation where the market is going to be like a moving battle all day.

The 50-Day EMA sits just below the $1700 level, and of course the $1680 level has been important as resistance more than once. Because of this, I think that any rally probably has somewhat of a short lifespan, and I would be looking for signs of exhaustion to start selling again. Alternately, if we were to break down below the $1620 level, then we could see this market breaking down rather significantly, perhaps down to the $1500 level at that point.

Gold Price Predictions Video for 03.11.22

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