DailyForex analysts monitor the gold market regularly to bring you gold price predictions and gold market forecasts that can help you find the best positions in the gold market.
Our gold forecast signals are good for both forex gold spot market traders and as well as for the long term gold investors in commodities market.
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The gold market rallied significantly on Friday, especially as the weak jobs number shocked the market.
The gold markets have fallen a bit during the course of the trading session as we await the jobs number on Friday.
Gold futures settled higher, but lacked the momentum to keep going and the price stopped at $1765 as of this writing.
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Gold markets fell significantly to kick off Wednesday, but just as we have seen all week, the $1750 level continues to offer support, as buyers come back in and push gold higher.
Gold markets sold off rather drastically on Tuesday but recovered quite nicely as it looked like they were going to break down at one point.
Gold's rebound gains during the last three trading sessions brought it to the resistance level of $1770, where it has settled at the beginning of trading today.
Gold markets initially fell on Monday to reach down towards the $1750 level.
The price of gold reached $1765 twice last week after falling to the support level of $1722, the lowest price in nearly two months.
Gold markets went back and forth on Friday, showing signs of exhaustion after the massive bullish candlestick that we formed on Thursday.
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The US Congress looks very likely to see a bit of a continuing resolution being signed, suggesting that the United States government is not going to shut down.
Gold markets initially rallied on Wednesday but gave back quite a bit of the gains and then started to fall apart from there.
Despite global concerns, which usually serve as a fertile environment for gold, a strong US dollar pushed gold to the $1728 support level, a 7-month low, before settling around $1740 as of this writing.
Gold remains near important support in early trading today, but unfortunately for bullish speculators, the lower price levels have proven rather vulnerable short term.
Gold markets broke down a bit on Tuesday to slice through the $1740 region, an area that has been supportive for a while.
Gold markets have been slumping during most of the September month, reaching down towards the $1750 level multiple times.