Weekly Gold Price Forecasts – Gold Markets Continue To Build A Base

The gold markets have been building a base for quite some time now, as we formed a huge hammer a few weeks ago, and now we have formed another hammer to support it. Currently I am waiting to see whether or not gold can break through the $ 1820 level because if it can I think this market can really start to take off. In the meantime, I think if you keep a smaller position, you can prepare for the move after the New Year. Keep in mind that liquidity will be a major issue between now and the non-farm payroll, so don’t be too aggressive in any position you choose.

Gold Price Forecast Video 12.27.21

I think at this point we could very well see a move towards the $ 1,875 level, once we break through that little bit of resistance I was talking about. The gold market is of course heavily influenced by the US dollar, so watch out what happens there. The gold market has been sideways for a while, and now that we’re at the low end of that range, it makes a lot of sense that we are rallying to continue the up-and-down action we’ve seen. for so many months. I’m not trying to reinvent the wheel here, I’m just trying to take advantage of training that has been evident for a while, and so I think a lot of people are going to go for the same job. In general, I like the idea of ​​buying dips as they happen.

Richard L. Militello