Gold Price Forecast

  The gold price forecast is bullish as the new week begins. Despite low activity on Monday, the slide could be temporary and may find buyers ahead.

  Gold prices fell from the previous week, currently trading below $1,830 on Monday. The dollars weakness helped push prices closer to $1,835 on Friday. The slump in the US dollar was aided by lower nonfarm payrolls (NFP), which came in at 235K, well behind market expectations of 750K, which was a serious setback.

  Gold Price Technical Forecast: Temporary Slide Around 20-SMA

  The gold price slipped to the 20-period simple moving average around $1,820 area. The asset covered only 37% average daily range, which indicates low activity on the day. The price can find further respite around $1,800. On the upside, $1,835 may provide resistance ahead of $1,850.


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