Gold Price Forecast – Gold Continues to Look Strong

But let’s not forget the whole geopolitical situation out there as well, because quite frankly, geopolitics could drive gold higher also, due to the fact that there is going to be a lot of concern out there for traders having to pay attention to the Middle East, potential global downturns, inflation. Also, central banks around the world continue to be buyers, so that matters as well obviously.

I mean, there’s a lot out there right now. I like the idea of buying gold on dips. I recognize that gold could very well be a very noisy market. I also recognize that there is a massive amount of support underneath, right around the 2000 level. Then it sends down to the $1,980 level, which is also attracting the attention of the 200-day EMA. So therefore, it’s a buy-only market for me, but I don’t necessarily want to chase it either.

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