Forecast for the price of gold: “Gold Markets Collapse.” Following the Fed meeting on Wednesday night. The price of gold increased by $30 and reached $1,960 the following day. Commerzbank analysts predict that their $1,850 XAU/USD year-end prediction is subject to increased risks.
Gold The forecast US interest rates and Fed will continue to be the major factor.
In the medium term, the prognosis for US interest rates is probably still going to be more of a factor.
The market’s projection of the inflation track and the related interest rate trend and the Fed’s assessment still differ significantly. But after Wednesday, there is a greater chance that now the Fed may veer further in the direction of the market’s perception. As a result, our prediction of $1,850 for gold at the end of the year is exposed to an upward risk Gold Technical Analysis
The Friday trading session saw a rather significant decline for gold markets, which appears to be a complete trend reversal in the near future. Normally, two consecutive red candlesticks indicate some sort of follow-through. Presently,
We believe that short-term surges will present buying chances when they begin to show indications of depletion. It’s important to note that we experienced a breakdown under the $1900 mark, which is clearly a psychologically significant, enormous, round number.
The 50-Day EMA is situated right around in the $1857 handle, and if we can breach under that threshold, it’s possible that we will drive this market down to the 200-Day EMA.
Which is placed near to the $1800 level. All of these is important to pay special attention to since gold will move in the reverse way of the US dollar. Although We do not even rule out the possibility of a reversal and a major rally. We, would need to see certain kind of supporting candlestick in order for it to occur.
Gold slides on reports have caused to drop 5%. The market crashed due to the fundamentals.
Since there will probably be a lot of volatility overall, one should probably proceed with utmost caution while trading this market, notably when figuring out the size of the stake because gold is, to put it mildly, notoriously volatile.
However, we believe that in the near future, there will probably be more disappointing news, so it is best to proceed with prudence. Considering that it appears that something just broken, the coming days will be crucial.
Gold Weekly Pivots
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1874.74 | 1876.22 | 1877.04 | 1878.52 | 1879.34 | 1880.82 | 1881.64 |
| Fibonacci | 1876.22 | 1877.10 | 1877.64 | 1878.52 | 1879.40 | 1879.94 | 1880.82 |
| Camarilla | 1877.22 | 1877.43 | 1877.64 | 1878.52 | 1878.06 | 1878.27 | 1878.48 |
| Woodie’s | 1874.40 | 1876.05 | 1876.70 | 1878.35 | 1879.00 | 1880.65 | 1881.30 |
| DeMark’s | – | – | 1876.62 | 1878.31 | 1878.93 | – | – |
Weekly Technical Indicators
| Name | Value | Action |
|---|---|---|
| RSI(14) | 16.748 | Oversold |
| STOCH(9,6) | 6.972 | Oversold |
| STOCHRSI(14) | 12.652 | Oversold |
| MACD(12,26) | -17.870 | Sell |
| ADX(14) | 44.619 | Sell |
| Williams %R | -93.700 | Oversold |
| CCI(14) | -79.4095 | Sell |
| ATR(14) | 7.7607 | High Volatility |
| Highs/Lows(14) | -18.4715 | Sell |
| Ultimate Oscillator | 35.982 | Sell |
| ROC | -2.560 | Sell |
| Bull/Bear Power(13) | -29.3160 | Sell |
|
Buy: 0 Sell: 7 Neutral: 0 |
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