Gold Price Forecast – Gold Stabilizes on Friday

Gold Price Predictions Video for 25.09.23

Gold Market Technical Analysis

Gold markets continue to see a lot of questions, with the 50-Day EMA sitting just above. If the market can break above that level, the reality is that the EMA has been sliced through multiple times. The market continues to move back and forth with interest rates, and therefore the bond market is something that you need to pay close attention to.

The market will continue to be held hostage by the interest rate markets, which continue to see upward pressure. The market for gold is going to continue to be very noisy as a lot of traders out there trying to sort out what central banks are going to do. Remember, the Federal Reserve is supposedly going to stay tight for longer, and that will continue to cause a little bit of pressure on gold. However, at the same time you can say that gold is a safety asset so I think that’s part of what you are seeing as well.

Another thing that I would bring up is the fact that gold is in a bit of a triangle, and that triangle is something that a lot of technical traders will be paying attention to, right along with the 200-Day EMA just underneath. Below the 200-Day EMA is the $1900 level which is a physical barrier. Anything below that opens up a move down to the $1800 level rather quickly in this market. Alternatively, the market were to turn back around and rally from here, the $1980 level is the next resistance barrier, followed by the $2000 level.

Regardless, this is a market that is range bound but it is also trying to build up enough inertia for the next big move. Because of this, you need to be cautious with your position size and very active and nimble in this market at the moment. The entirety of the financial market right now seems to be in a state of constant unease, so that will work out in favor of gold over the longer term, but the short-term moves could be rather erratic. Position sizing will be paramount in this market, as well as most others, at the moment.

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