News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
More View more
Real Time News
  • ECB policymakers were out in force last week, saying they were watching Eurozone government bond yields, but yields rose anyway, and that’s positive for $EURUSD and the Euro crosses. Get your market update from @MartinSEssex here: https://t.co/nJdh9dA1HM https://t.co/peLh7zTTiz
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/vs7ypHHwya
  • The GBP rally vs USD came to an abrupt end and reversal; this sets cable up for more selling in the week ahead. Get your market update from @PaulRobinsonFX here: https://t.co/Ee9PSppnd2 https://t.co/uaiCiEHBMs
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: https://t.co/e7udCTJlmf #DailyfxGuides https://t.co/OXUgYIl2ru
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/xncree8XaW
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/gGOU1RVQzq
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/wrI29FTN41
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/UzzC1bGzRJ
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/46bdHdOmOV
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/6FokpDbL65
Gold 1Q 2021 Forecast: Gold Outlook Bullish Headed into First Quarter, with Caveats

Gold 1Q 2021 Forecast: Gold Outlook Bullish Headed into First Quarter, with Caveats

Christopher Vecchio, CFA, Senior Strategist
Advertisement

Gold Price 1Q’20 Forecast Overview:

  • While the 1Q’21 gold price outlook is bullish, there are some caveats – mainly, that gold may not be the best performing metal, precious or otherwise.
  • Silver prices have a recent historical precedent to suggest that they are likely to lead gold prices for the foreseeable future.
  • Technical outlook is bullish as well.

Coming Soon! Download the NEW 1st Quarter Forecast Live on Monday on our Free Trading Guides Page!

What started with a bang is now ending with a whimper. After a meteoric rise in gold prices through the first three quarters of 2020 (gaining +24.3% from January 1 through September 30), gold prices cooled off in 4Q’20, having lost around -1% at the time this forecast was written in December 2020.

Some of the reasons for shifts in underlying fundamentals that dictated a pause in the gold price rally in 4Q’20 are still valid in 1Q’21, while other catalysts have disappeared or reversed course altogether. While the 1Q’21 gold price outlook is bullish, there are some caveats – mainly, that gold may not be the best performing metal, precious or otherwise.

Gold Daily Chart (Bull-flag developing)

Gold 1Q 2021 Forecast: Gold Outlook Bullish Headed into First Quarter, with Caveats

Created by Paul Robinson, Technical Strategist

With government deficits rising and interest rates staying low – much like the 2009 to 2011 window – now that the global economy is looking ahead to a period of significant growth post-pandemic, silver prices have a recent historical precedent to suggest that they are likely to lead gold prices for the foreseeable future.

Traders shouldn’t be surprised if platinum, alongside base metals like iron, nickel, and copper, all outpace gold prices in 1Q’21 as financial markets remain ever-forward looking towards a future where the pandemic has been contained, growth is on the march, and substantial support is still being provided by central banks and sovereigns globally.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Christopher Vecchio, CFA
Build your trading confidence heading into 2021!
Get My Guide

--- Written by Christopher Vecchio, CFA, Senior Currency Strategist

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES