Gold Price Forecast – Gold Markets Continue to Find Buyers
Gold markets rallied a little on Friday to close the week, showing signs of a little US dollar being sold worldwide. Ultimately, this is a market that I think continues to be a lot of noise and so I think you have plenty of time to get involved. Even so, I like the idea of buying pullbacks because it offers value that you can take advantage of. With that in mind, I believe that it is only a matter of time before we push much higher as central banks around the world continue to flood the markets with cheap money.
Gold Price Prediction Video 11/23/20
That being said, we could fall as low as $ 1,800 and still show me the same attitude. I would love it if the market fell towards this area as the 200 day EMA is there too so it is likely that a lot of people will be paying close attention. In addition, we have broken out at the $ 1800 level before so many people will be paying close attention and it is a "retest" of previous resistance. In this case, I like the idea of buying dips in the future, but I'm not immediately jumping in with huge positions.
I think this is going to be more or less an investment that you can take advantage of over the long term. In at least a few years, central banks around the world will continue their bond purchases and, of course, quantitative easing.
In our economic calendar you will find all economic events of today.
This article was originally published on FX Empire
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