Gold Forecast - Tuesday, October 13

Tuesday Forecast

Uptrend scenario

An uptrend will start as soon, as gold rises above resistance level 1928, which will be followed by moving up to resistance level 1952.

Downtrend scenario

The downtrend may be expected to continue, while gold is trading below resistance level 1928, which will be followed by reaching support level 1893.

This/Next Week Forecast (October 12 - 16, 2020)

Uptrend scenario

The uptrend may be expected to continue, while gold is trading above support level 1920, which will be followed by reaching resistance level 1966 and if it keeps on moving up above that level, we may expect gold to reach resistance level 2033.

Downtrend scenario

A downtrend will start as soon, as gold drops below support level 1920, which will be followed by moving down to support level 1848.

Previous week gold forecast chart

Fundamental Analysis

Conditions in currency and interest rates sectors showing fair price on the level 1800 - 1750.

Long-term Forecast
(Quarter III: July - September 2020)

Uptrend scenario

The uptrend may be expected to continue, while gold is trading above support level 1920 - 1795, which will be followed by reaching resistance level 2175 - 2400.

Downtrend scenario

A downtrend will start as soon, as gold drops below support level 1795, which will be followed by moving down to support level 1500 and 1350.