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Gold Weekly Price Forecast – Gold Markets Have Strong Week

Christopher Lewis
·2 min read

Gold markets have had a very strong week during the last five sessions, as we have reached towards the 50 week EMA. If we can break above the $1800 level, then I believe gold markets will continue to go much higher, perhaps reaching towards the highs again. This would make sense, as we are starting to see people worry about inflation, which of eventually inflation could lift gold, depending on what bonds are doing.

Gold Price Predictions Video 19.04.21

Recently, we have seen bond yields stabilize a bit, so it is not offering a “real rate of return” like that was previously. If that is going to continue to be the case, then gold will get a boost. However, if the yields in the bond markets start to spike again, then we are very likely to see gold suffer as a result. That being said, my trigger price is going to be $1800, where I would be a buyer again. I do not necessarily think that we explode to the upside right away, but more of a grind than anything else. That grind would allow plenty of buying opportunities on dips. As things stand right now, it is not until we break down below the hammer from two weeks previous that I would be a longer-term seller of gold. At that point, I would anticipate a move down to the $1500 level eventually.

Keep in mind that the bond market is going to continue to cause major issues, in both directions so you need to see what is going on in those yields to get a good read on what happens in this market.

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

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