Gold Price Forecast and Longterm Prediction (Update 2021)

In this article we make a Gold price forecast and also a long-term prediction. We would like to give an assessment of the further price development of the Gold price in US-Dollar. We also look at the long term charts for Gold, which are the yearly, quarterly and monthly charts with logarithmic scale. The basis of our analysis is Price Action and Technical Chart Analysis.

The charts used are from TradingView and the prices are from the Gold Futures traded at COMEX.

Gold Price Forecast: Daily Chart

Last update: January 15, 2021

The Gold price on the daily chart reached a new all time high at 2089,2 on August 7. In the following weeks the gold price dropped to the 200 days simple moving average (yellow line), found support and could revover. After the price was able to break through nearby resistance levels, it was able to climb at local high of November 2020.

Currently the gold price has dropped again and could not defend the support area around $1900. For now, the SMA200 was able to stop the current downward movement.

Gold price daily chart - still challenging support at SMA200
Gold price forecast: Support at SMA200 may be possible (Chart: TradingView)

Resistance levels: 1923.7 | 1966.1
Support levels: 1798.1
SMA200: 1845.1

Gold price forecast: The short-term support levels were broken and the chart may now show sideways action. A break below the green dashed support line could cause more downside potential.

A return back above $1.900 would create potential to try the November high again.

Gold Price Forecast: Weekly Chart

Last update: January 09, 2021

The Gold price on the weekly chart is moving in an established uptrend and has reached a new all time high. Currently we see a correction of the uptrend and gold price expecting resistance around the 2011 high.

Gold price predictions weekly chart
Gold Price prediction: 20-weeks SMA (blue line) was reached (Chart: TradingView)

Resistance: 1923.7
Support: 1798.1

Gold price forecast: The longer term uptrend in the gold price is interrupted trough a strong technical correction. The area around 2011 high may become a strong resistance. The 20-weeks SMA is heading down and could also cover higher prices. A price drop below the 50 weeks moving average could lead to more weakness with target $1700.

Gold Price Predictions: Monthly Chart

Last update: January 02, 2021

The Gold price on the monthly chart is moving in an established uptrend and has reached a new all time high at $2089.2.

gold price forecast monthly chart showing uptrend
Gold price forecast: established uptrend reaching all time high (Chart: TradingView)

Resistance: 1923.7 | 2001 | 2089.2
Support: 1798.1

Gold price predictions: We see an established uptrend, so probabilities favor a continuation of the price advance. The positive chart picture would turn to neutral, if gold prices drop below the high of 2012 at $1798,1.

Gold Price Predictions: Quarterly Chart

Last update: January 02, 2021

The Gold price on the quarterly chart is moving in an established uptrend and has reached a new all time high.

Gold price forecast quarterly chart
Gold price forecast: established uptrend reaching all time high (Chart: TradingView)

Resistance: 1923.7 | 2000 | 2089.2
Support:  1798.1 | 1566.2

Gold price forecast: We see an established uptrend, so probabilities favor a continuation of the price advance. The positive chart picture would turn to neutral, if gold prices falls below the high of 2012 at $1798,1. But only a price drop below the high of 2019 at $1566.2 could turn the quarterly chart negative.

Gold Price Predictions: Historical Chart (Yearly Chart)

Last update: January 02, 2021

The Gold price on the yearly chart is moving in an established uptrend and has reached a new all time high at $2089.2 on August 7, 2020.

Forecast Long term yearly chart of gold price - historical chart
Gold price forecast: established uptrend reaching all time high (Chart: TradingView)

Resistance: 1923.7 | 2000 | 2089.2
Support:  1798.1 | 1566.2

Gold price forecast: We see an established uptrend, so probabilities favor a continuation of the long term price advance. The high of 2012 at 1923.7 is relevant resistance. The positive chart picture would turn to neutral, if gold prices falls below the high of 2012 at $1798,1. The long term picture of the gold price could turn to negative if prices fall below the low of 2020 at $1450.9.

What is the current price of Gold in US-Dollar ?

The current price of Gold you can see here.

*This price prediction is based on the data collected from various sources. This should not be considered as an investing parameter and user should do their own research before investing.

Do you think our predictions are accurate? What are your thoughts on the methods used to reach our conclusions? Let us know in the comments below.

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