Gold Weekly Forecast For Week Of Nov. 9-13

Upcoming Week Forecast (November 9 - 13, 2020)

• Uptrend scenario: The uptrend may be expected to continue if the market rises above resistance level 1966, which would be followed by reaching resistance level 2033.
• Downtrend scenario: A downtrend may start as soon as the market drops below support level 1933, which would be followed by moving down to support level 1880.

The Previous Week's Gold Forecast Chart

Fundamental Analysis

The current conditions in the currency and interest rates sectors are illustrated by the price on level 1750. Additionally, new COVID-19 surge and lockdown concerns have increased, thus creating uptrend pressure.

Monthly Forecast

• Uptrend scenario: An uptrend may start as soon as the market rises above resistance level 1966, which would be followed by moving up to resistance levels 2033 and 2075.
• Downtrend scenario: A downtrend may start as soon as the market drops below support level 1933, which would be followed by moving down to support level 1848.