Gold Price Outlook – Gold Continues to Look Strong

Gold Markets Technical Analysis

The gold market has shown itself to be rather strong during the trading session on Friday, as we are just simply continuing what we saw on Thursday. All things being equal, this is a market that I think continues to see a lot of overall bullish pressure, but it is worth noting that the 3000 level is an area that could cause a little bit of resistance.

Short-term pullbacks continue to be buying opportunities, and I would also point out that based on the technical analysis, the bullish flag suggests that we are going to go looking at the $3,300 level. Short-term pull banks probably offer buying opportunities all the way down to at least the 2,900 level. The gold market has a lot of upward pressure due to a multitude of factors, not the least of which would be a shrink in the US dollar.

But there are also concerns about global turmoil with tariff wars accelerating. And beyond that, we also have geopolitical concerns. So, all things being equal, this is a situation where we continue to see a lot of upward trajectory, but that doesn’t mean we get straight to the 3,300 level. I think it’s going to take some time. So, a little bit of a pullback here would make a certain amount of sense, and I think it would offer value. I believe there are plenty of people out there willing to jump in and buy cheap ounces of gold on a value play.

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