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Gold Price Trend Forecast 2020

Commodities / Gold & Silver 2020 Mar 04, 2020 - 08:31 AM GMT

By: Nadeem_Walayat

Commodities

This is the final part of my Gold price analysis that concludes in a detailed trend forecast for 2020 that was first made available to Patrons who support my work. Gold Price Trend Forecast 2020

  • Gold Price Trend Forecasts 2019 Review
  • SEASONAL ANALYSIS
  • QE4EVER
  • US DOLLAR
  • LONG-TERM TREND ANALYSIS 
  • Gold / SIlver Ratio
  • Trend Analysis 
  • ELLIOT WAVES
  • Gold Price Trend Forecast 2020 Conclusion 

Formulating a Gold Price Trend Forecast

Unfortunately this analysis is not resolving towards expectations for the resumption of the Gold bull market towards my long standing target of $1800 imminently as the picture being painted by the above analysis suggests that the Gold price is in for a period of consolidation before resuming it's bull run towards $1800.

Seasonal analysis says we will soon be entering into a weak period for the Gold price that could stretch all the way into early summer.

US Dollar is not likely to drop out of a tight trading range.

Gold when compared against Silver looks expensive.

Long-term trend analysis states that Gold faces heavy resistance in the $1530 to £1630 zone which implies to expect Gold to trade BELOW $1530 before it can go higher.

Trend analysis states that Gold is correcting from an overbought state.

Only elliott wave analysis looks very bullish implying an imminent resumption of the bull trend, though on its own is a coin flip.

So it's NOT looking imminently bullish for Gold, at least not for the first few months of 2020. At best Gold could attempt to attack resistance maybe once more before drifting lower into late April / early May before building a base for another assault and break to new bull market highs later in the year, as Gold corrections tend to last longer than Gold rallies.

Gold Price Trend Forecast 2020 Conclusion

My forecast conclusion is to expect a weak first 4 months or so of the year in preparations for another assault on resistance at $1630, that will likely see the Gold price break through to new highs for this bull market. Whilst downside looks limited to around $1520.

How high could Gold go? I think $1800 / +18% could be pushing thing's a little too far, more likely is to see Gold trading to a high of around $1770 towards the end of Summer 2020.

Risk to the Forecast

That I maybe under estimating how high the Gold price could go during 2020.

Latest Analysis:

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22nd Feb - Coronavirus Pandemic Stock Market Implications

So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.

Recent analysis :

Scheduled Analysis Includes:

  • Coronavirus Stocks Bear Market
  • UK Housing market series
  • Machine Intelligence Investing stocks sub sector analysis
  • Euro Dollar Futures
  • EUR/RUB
  • US House Prices trend forecast update

Your Analyst.

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2020 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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