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The Gold trades last week signal that our forecast for $1500 is possible
Category: Default
Posted by on June 8, 2020 at 12:54 AM
The spot Gold price lose more than $53 during the last week and is on the way to new low prices predicted by us on May 27th. In forecast 10-days ago predicted that the rising price of Gold will stopped.
On June 5th the last trading day of the first week of the new month the Gold lose more than $30 and signal that the downtrend is a fact.
In the coming week we expect to see Gold trading in the range of $1640 and $1715. The tendency for downward direction will continue this week although that the movement will be not so fast as the prior week.
The main target for Gold price remain levels below $1500 or close to $1500 per ounce in the coming few months time or latest at the end of 2020. So we continue to hold short position and plan to make new bought (long position) after few months time.

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