Gold Price Outlook – Gold Continues to See Upward Pressure

Gold Markets Technical Analysis

Gold markets continue to look very strong as we are rallying early on Tuesday as traders come back to work in New York. Ultimately, I think this is a scenario where we eventually see this market break out to a fresh new high, and as things stand right now, there’s no real need to get overly concerned about the trend. I think short-term pullbacks probably end up buying opportunities before it’s all said and done, as the trend continues for a multitude of reasons, not the least of which would be inflationary concerns, and of course, uncertainty when it comes to tariffs.

Remember, the rest of the world is very focused on what the United States is doing and reciprocal tariffs around the world would actually make for an even playing field, something a lot of economies really can’t handle as efficiently as maybe some of your bigger ones. So it could cause us a bit of chaos, but nonetheless, I do think that’s the route we’re going down and I think the trading public understands that Trump is pretty serious about this.

Short-term pullbacks, again, I think, are buying opportunities all the way down to at least the $2,800 level. I think gold’s going to $3,000. In fact, I thought that in the fall of last year, but unfortunately, we went sideways for several months. And although it looks like I’ll be correct, it took us a while to get here. The last couple of months have been rather positive, though, and now we are in a steady as she goes, buy the dip, press higher type of overall market.

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