gold price forecast , Time For a Pullback

gold price forecast , Time For a Pullback

gold price forecast , Time For a Pullback

gold price forecast Precious metals are giving back tons of the gains made in thin Asian liquidity yesterday, with platinum leading the bunch. i might expect $1560/oz to supply up the primary significant support in gold

The leg higher in US stocks seems to be behind the next drop off in demand for in fixed income, as US Treasury yields stabilized. Which is probably going triggering the sell-off in gold

I don’t think the fixed income sell-off comes as an excessive amount of of a surprise because the market remains in fade mode and isn't close to easily roll over on the worldwide growth trade provided the economic data remains secure 

As for gold, with $15-20 setbacks the new intraday norm, search for volatility to stay elevated

gold price forecast Yesterday it had been Chinese Banks that were chasing price action during a panicked fashion after local authorities released quotas early this year. Also, there was reportedly good demand for physical from these same banks, which is typical for January seasonality factors before Chinese Lunar New Year 

Lost within the fog of war is that the incontrovertible fact that the Fed still considerably counts for gold prices. Last week the Fed minutes conveyed the impression that the FOMC’s risk to their outlook had eased, although the bias was still to the downside. But overall, this statement does reduce the chances of a rate cut this year, which skews neutral to slightly negative for gold 

Gold’s Cycle Breakout Confirmed

gold price forecast I’ve explained before how gold forms intermediate lows approximately every 6-months. The previous cycle peaked in September, and costs entered a protracted cycle correction. The Christmas Eve rally above $1492 confirmed a November 6-month low, and therefore the next advance is underway