Gold markets retreated slightly during the trading session on Wednesday as we continue to see volatility in the financial markets. That said, the market is likely to see a lot of noise in general, especially since the Senate is likely to skip over to the Democrats. If that’s going to be the case, the market will probably see the US dollar everywhere. In the longer term, however, the gold market would have to benefit most from a shrinking US dollar, which was already a factor even before the Senate by – elections in Georgia.
Gold price forecast video 07.01.21
On the downside, I believe the previous downward trend and the $ 1900 level both offer a lot of support. At this point, the market is likely to see some demand, and that’s the assumption that we’ll even get there. Even so, owning one is still beyond the reach of the average person, and the 50 days have passed since then. On the upside, the $ 2000 level will be the next target, followed by the $ 2100 level.
Given enough time, I think we’re not just going to that area, but much further because the U.S. dollar seems extraordinary amounts over time. Even if this is ultimately not the case, it is also possible that the world has so many potential headlines, that gold is becoming a ‘security trade’. In other words, I think it’s going to be a ‘win-win situation’.
Look at all the economic events of today economic calendar.