Gold/USD Price forecast | 11 September, 2020
Gold Price Forecast relative to
Long Term Monthly (LT-M) – Medium Term Weekly (MT-W) – Short Term Daily (ST-D) – and Hourly (not shown) data
(Previous week in brackets)
|Au Trend||↓ (↓)||↓ (↓)||↑ (↓)|
|Au % Risk
|90 (90)||68 (69)||43 (35)|
|PM Allocation Limit(50%)||Invested||Pt:20% Ag:45% Au:35% (100%)|
Gold/USD live price
4 September:: The significance of 7 weeks trading in all time elevated price territory after the strong advance starting in June, is that any retracement, even down towards 1800, is an acceptable type of volatility. This market still looks very strong medium term. Now is the time not to be trading for profit but exercise strong patience for gold to become part of a major reset template against fiat currencies. Even though all time frames are down, including quarterly which needs to close above 2048 in order to not turn down, the most common technical outlook is for both the Weekly and Monthly risk weight to show bearish divergence several times before this market finds it emotional top. Another picture we see is a weakening dollar in the fiat space which may propel gold higher relative to the greenback. No Change.
Gold/Euro live price
11 September:: Looking for minimum 1800 target or above based on a similar anaylsis as USD.
Gold/British Pound live price
11 September:: Looking for minimum 1613 target or above based on a similar anaylsis as USD.