Gold Price Forecast – Gold Markets Get Slammed on Friday

Gold Price Forecast – Gold Markets Get Slammed on Friday

Gold markets have gotten absolutely crushed during the trading session on Friday, as we continue to see money run into the US dollar, and the bond market in general. With that being said, the market could very well see a scenario where gold drops below the 200 day EMA, and then breaks below the $1800 level. If it does, that could begin a significant bearish move in this market, and it is worth noting that the candlestick on Friday was extraordinarily bearish. If we do in fact close at the absolute bottom of the daily range, that does suggest that we should continue to follow through to the downside.