gdallas96023
Long

GOLD outlook for the coming year.

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold is currently in a large ranging market, with strong resistance around the $1366 area and finding support around the $1310 area. My long term outlook for gold is bullish possibly seeing $1400 before the end of Q3. In the short term I believe we will see more selling pressure before finding new buyers around $1300. Before we see $1400 we would have to break and close above $1366 and we may find our next psychological resistance at the $1375 level.
To back this up I look at the Dollar index were we are still experiencing a downtrend, although the dollar seem bullish due the breakout above its previous range due to the higher yield offering on 10 year Tbonds.
I believe the Dollar is still very weak and long term this weakness will cause investors to head towards the safety of gold .
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out