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.
Watch as gold prices fluctuate based on technical analysis, global political developments and comprehensive market research in the gold market forecasts below. Learn how to purchase gold at the higher price in uptrend market and avoid losing money due to the wrong entry point. Our gold forecase provides you with the right signals at the right time. Ready to Get Started with Gold Trading?
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The gold market has gone back and forth. They're in the trading session on Monday, as we continue to look a bit lost.
The gold price has maintained its position above $2500 per ounce, supported by the latest US jobs reading ahead of more data scheduled to be released later on Friday, which may prove crucial in determining the size of the US interest rate cut by the Federal Reserve this month.
In my daily analysis of the gold market, the first thing that I notice is that although we were very strong in the early part of the session, it’s worth noting that we gave back about half of the gains by midday during New York trading.
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We have often emphasized that buying gold at every dip is the best trading strategy for gold.
Recent selling pressure since the beginning of September has pushed the gold price below the significant $2500 per ounce level, with losses extending to the $2473 per ounce support level before stabilizing around $2480 per ounce at the time of writing.
The recent sales did not derail the gold price from its general trend and adherence to the psychological resistance of $2,500 per ounce confirms the strength and control of bulls over the trend.
Gold was overbought in the summer of 2024, its fundamental drivers were not performing well or really favorable, and the AI stock bubble continued to distract investors.
Gold initially tried to rally during the trading session on Friday but gave back gains as we continue to see a lot of volatility.
During Wednesday's trading session, the gold price declined below the $2,500 per ounce level, with losses extending to the support level of $2,493 per ounce.
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Gold plunged in the early hours of the Wednesday session but have turned around to show signs of life.
Yesterday, the gold price fell towards the support level of $2,503 per ounce but quickly rebounded to stabilize around the resistance level of $2,525 per ounce.
The price of gold rose above $2,525 per ounce at the beginning of trading this week, reaching record levels touched last week after Federal Reserve Chairman
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Sign up to get the latest market updates and free signals directly to your inbox.Gold futures surged last Friday after Federal Reserve Chairman Jerome Powell hinted at upcoming interest rate cuts.
It’s obvious that we are very much in an uptrend.
Gold prices reached $2,520 per ounce on Wednesday, setting a new all-time closing high as more dovish expectations from major central banks lowered bond yields and favored demand for non-interest-bearing bullion assets.