Gold Weekly Price Forecast – Gold Markets Push Through a Trendline

Gold Weekly Price Forecast – Gold Markets Push Through a Trendline

Gold markets have rallied significantly during the course of the week to break through a downtrend line, breaking above the 50 week EMA. By doing so, it showed extreme strength, but on Friday we had a massive selloff. At this point in time, it looks as if we are trying to figure out whether or not there is any follow-through to this breakout, and it must be said that this market is paying close attention to the 10 year yields. As they rise and fall, that could have a major influence on what happens with the gold market next.