Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Gold Forecast: Markets Find Buyers

By Christopher Lewis
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.

Since gold is so strong right now and, there are a lot of reasons to believe that it will continue to rise much higher, it is not something you should sell. 

  • Early on Wednesday morning, gold markets saw a small increase in trading activity as traders from all over the world continued to show a great deal of interest in the market.
  • Interest rates, central banks, and geopolitical unrest all play a role in the movement of gold.

Gold Attempting to Break Higher Again

Looking at the gold market, we can see that while we attempt to break through the highs once more, gold has shown itself to be fairly positive in the early hours of Wednesday. 

Given the current state of affairs, I believe that gold will remain one of these markets in which you are purchasing dips. After all, the situation could involve a number of different geopolitical concerns. Of course, interest rates are also expected to decline globally as central banks continue to appear inclined to start reducing.

Top Forex Brokers

1
Get Started 74% of retail CFD accounts lose money Read Review

The sharp increase in altitude has been relatively unheard of. Thus, we'll have to see if we can keep going higher or if we have to turn around. The third possibility is that, given how strong the market is right now, we might need to move sideways. In this case, I would have no interest in trying to short this market. If you were to buy down to the previous resistance level of $2,075, that would be my preference.

Gold Forecast Today 14/3: Markets Find Buyers (Graph)

And I believe there is a lot of market memory associated with that area. In such a setting, I believe a lot of bargain hunters would become involved and would probably drive this market higher. In any case, all I do is keep an eye on the daily candlestick to see what it looks like and to see when I should next enter the long position.

Since gold is so strong right now and, there are a lot of reasons to believe that it will continue to rise much higher, it is not something you should sell. I believe that this is a situation where there will be a lot of noise for some time to come, but in the end, anytime it pulls back, you have to consider it a possible buying opportunity.

Ready to trade our Gold price forecast? We’ve made a list of the best Gold trading platforms worth trading with. 

Christopher Lewis
About Christopher Lewis
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.
 

Most Visited Forex Broker Reviews