Thursday Forecast

Uptrend scenario

An uptrend will start as soon, as the gold market rises above resistance level 1863.50, which will be followed by moving up to resistance level 1884.

Downtrend scenario

The downtrend may be expected to continue in case the gold market drops below support level 1858, which will be followed by reaching support level 1848.

Previous day forecast

This/Next Week Forecast (November 16 - 20, 2020)

Uptrend scenario

The uptrend may be expected to continue, while the gold market is trading above support level 1848,20, which will be followed by reaching resistance level 1933,15.

Downtrend scenario

A downtrend will start as soon, as the gold market drops below support level 1848,20, which will be followed by moving down to support level 1780.

Previous week gold forecast chart

Fundamental Analysis

Conditions in currency and interest rates sectors showing fair price on the level 1750, but new covid wave and lockdown increasing creating uptrend pressure.

Monthly Forecast

Uptrend scenario

An uptrend will start as soon, as the gold market rises above resistance level 1966, which will be followed by moving up to resistance level 2033 and 2075.

Downtrend scenario

A downtrend will start as soon, as the gold market drops below support level 1933, which will be followed by moving down to support level 1848.