Superior broker technology provider since 2010
+1 (315) 675 1086 |

Markets Continue to Look for buyers


Currently, gold is trading between the 50-Day EMA and 200-Day EMA indicators, which can lead to significant fluctuations. 

  • During Thursday’s trading session, gold markets showed a lot of choppy behavior, which is consistent with the ongoing volatility in most financial markets.
  • The uncertainty about the direction of interest rates has a significant influence on gold pricing, and this factor, combined with recent market activity, has made for a noisy and volatile market.
  • However, the gap from back in January has been filled, indicating at least some interest in this area.

Currently, gold is trading between the 50-Day EMA and 200-Day EMA indicators, which can lead to significant fluctuations. As a result, it is likely that the market will see an impulsive candlestick in the near future, but it does not have momentum at the moment. Therefore, it will likely offer short-term trading opportunities, but investors should pay close attention to a couple of critical levels.

The $1800 level is located just below the 200-Day EMA and is worth watching closely. If the market breaks below this level, it could go further down to $1775, the next gap in the futures market. Just below that level is the $1750 level, which also happens to be the 61.8% Fibonacci level.

On the other hand, if gold moves above the $1860 level, it could attract plenty of buyers, and it could make a run toward the $1900 level. The $1900 level is an area that showed significant resistance in the past, and it will likely be challenging to break above. Moreover, there is an impulsive selloff just above this level that could exert significant selling pressure. Therefore, it is likely that gold will settle in some type of range in the near term.

Overall, gold markets are facing a lot of uncertainty and volatility. While there may be short-term trading opportunities, the market is likely to remain range-bound until there is a significant shift in the supply and demand dynamics. Investors should pay close attention to the critical levels mentioned above and be prepared for potential market fluctuations in the near term. With that being said, make sure you pay special attention to your position sizing, and you will have to be rather nimble to take advantage of these moves. Pay attention to the US dollar, because it has an obvious negative correlation to gold, so that’s something that you will have to be cognizant of over the next couple of days.


Ready to trade our Gold price forecast? We’ve made a list of the best Gold brokers worth trading with.


Leave a Reply

Your email address will not be published. Required fields are marked *

YourOwnBrokerage is a leading Technology & Business Consulting firm with a specialized focus in Fintech industry.

RISK WARNING: Trading products are highly speculative in nature and carries a significant level of risk which may not be suitable for all investors. Please ensure you fully understand the risks involved and only invest money you can afford to lose. Seek advice from an independent adviser if at all unsure as to the suitability of investing in such instruments.

The content of this website must not be construed as personal advice. We recommend that you seek advice from an independent financial advisor.

The information on this website is not directed to residents of certain jurisdictions where such distribution or use would be contrary to local law or regulation.

© 2009 - 2024 All Rights Reserved.