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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Gold Achieves $1375 Target 20167, $1500 Expected for 2018

Commodities / Gold and Silver Stocks 2018 Jan 01, 2018 - 01:12 PM GMT

By: Nadeem_Walayat

Commodities

Bullish commodity traders and investors in the likes of oil and gold also saw strong positive returns for the year as Oil ended at its high for the year of $60 and Gold at $1310 both inline with my bullish expectations for these commodities for 2017.


Gold had a bumpy but positive year, ending at $1310, up a healthy $160 pr 14% on the year which is inline with my bullish expectations for the precious metal. In fact Gold virtually hit my exact high target for the year of $1375 in September before correcting ahead of its end of year rally to $1310.

Gold 2017

My long-term forecast expectations remain as of more than a year ago that Gold ultimately targets a trend towards $1800, a trend that is pending a break above $1375. As for Gold in 2018, a break above $1375 should see the Gold price target $1500, an expectation I will come back to in an in-depth analysis of Gold and Silver in the coming weeks so ensure you are subscribed to my always free newsletter and youtube channel for my forthcoming in-depth analysis and detailed trend forecasts.

As for the gold miners, well the GDX firmly remains stuck in a trading range. However ultimately I expect GDX to follow the gold price breakout higher.

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2017 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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