Gold Price Forecast – Gold Markets Exploded After Jobs Number

Gold Price Forecast – Gold Markets Exploded After Jobs Number

Gold markets have rallied significantly during the course of the trading session on Friday to go looking towards the $1835 level but has been stymied by the significant resistance in that general vicinity. That being said, we are looking very bullish at the moment and of course a lot of people are going to be looking to short the US dollar. By extension, that means that gold should do fairly well, but it should be noted that we may have to pull back in order to pick up a little bit of momentum. Because of this, I would not be surprised at all to see a move back towards the $1825 level, because quite frankly we have seen this area offer resistance more than once. Because of this, I believe a little bit of patience probably goes a long way at the moment.