Gold Price Weekly Forecast: Bullish Breakout Remains In-Play

Gold Price Fundamental Forecast:Neutral

Q3 2019 Gold Forecast and Top Trading Opportunities

Golds Price Correction May Offer Bulls a Better Trade

All bull markets have periods of price correction and consolidation and it looks as though gold is currently going through this process. While in the short-term it may not be the best trade to go long at current levels, in the longer-term golds price action suggests higher prices. However, it is even harder to suggest going short of gold at these levels with all fundamentals stacked against a sizeable move lower, leaving the sidelines the place to watch the market correction play out. All bull markets have periods of correction and consolidation, as loose holders get shaken out, and gold looks like it is currently following this pattern.

Check out our Technical Analysis section on the website for updated Gold chart levels and prices.

How to Trade Gold: Top Gold Trading Strategies and Tips

Gold Daily Chart (December 2018 - August 9, 2019)

The IG Client Sentiment Indicator shows retail traders are 60.6% net-long Gold, a bearish contrarian bias. However daily and weekly changes give us a stronger bearish Gold bias.