Gold Price Forecast – Gold Markets Continue to Hang Around 200 Day EMA

Gold Price Forecast – Gold Markets Continue to Hang Around 200 Day EMA

Gold markets have initially pulled back a bit during the course of the trading session on Monday, only to turn around and reach towards the 200 day EMA. The $1800 level is a bit of a magnet for price as well, so with that being the case I think that this is a market that is trying to figure out where to go for the longer-term move. To the upside, if we were to clear the highs from last week, it is very likely that we could go looking towards the $1860 level, which is an area that I think a lot of traders will be paying quite a bit of attention to as it would fill the gap that happen a couple of weeks ago.