Skip to Content
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. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Gold Price May Need to Digest, but Looks Broadly Bullish

Gold Price May Need to Digest, but Looks Broadly Bullish

What's on this page

Gold Price Technical Highlights:

  • Gold price wilds swings could iron out into a rally
  • Some time may be needed first to gain a strong footing

Gold price wilds swings could iron out into a rally

It’s been a wild month for gold, but despite it having been all over the place it could end the month somewhere around flat. It’s currently up about $40 from the close of February. The sharp down-move with risky assets caught many by surprise as wholesale liquidation even hit the safe-havens.

The sell-off certainly challenged the status quo and the trend over the past couple of years. But the resurgence over the past week or so has put gold back in a good place in terms of keeping the upward trajectory intact. It could still be a mess to trade for a bit beyond a very short-term holding period before we see a clean, sustainable rally develop.

In the very near-term, price is holding up well with a small consolidation phase that could lead gold higher towards the 1680/1700 region. But without some more digestion taking shape between 1450 and 1700, the outlook thereafter could remain in limbo.

A digestion phase marked by buying interest at increasingly higher levels over the coming weeks could do gold some real good. A solid base from which to launch from may have the all-time highs over 1900 in play in the coming months.

Top Trading Lessons
Top Trading Lessons
Recommended by Paul Robinson
Find Out the #1 Mistake Traders Make
Get My Guide

Gold Price Daily Chart (1450/1700)

Gold daily chart, 1450/1700

Gold Price Charts by TradingView

Gold Price 4-hr Chart (small consolidation may lead higher)

Gold price 4-hr chart

Resources for Forex & CFD Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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