Forex Gold Prices 2017 2nd Quarter Forecasts
The gold market, which started to move upwards by holding the new year at the level of 1150 USD / ounce
, was exposed to the decrease last month but after that it found support at 1200 USD level and eventually brought a hammer to the fruit market.
This hammer is a positive form of support for the upward movement, and a breach that will take place beyond the high level of the attractor (the high point of March) will deliver this market for at least $ 1300. If we can go beyond this, the gold prices will be free to go to the 1380 USD level.
I would like to think that short-term retreats should be evaluated in terms of procurement because of the protection of the healthy structure of gold. It is noteworthy that the formation of high hills and high bottoms continues on a weekly basis.
Get and Keep Long-Term View
According to your understanding of maturity, you can move your buy-and-hold process to a long future, as the break-up of the $ 1400 level will push the market up further.
The climb after this fracture can be experienced a little faster. At this point, the sales process is not interested.
In order to be able to think of an action in this direction, the level of 1200 USD
will have to go down and the lower level of March's crash will have to be broken down. However, such a development is quite negative in technical terms.
Stay close to the Bank of America.
Interest rates expectations have an important role to play in gold prices, and investors seem to be questioning the idea that the Federal Reserve may be able to raise too much interest. In my opinion, the number will not exceed two.
On the other hand, this may already be reflected in prices. If the Fed does not hesitate in some way, the prices will go up.
The silver market has already lifted resistance at the level of 18 USD
with psychological precaution. The gold market may have a similar development.