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: Recovering near $ 1 800

Last Update: April 25, 2021

At the time of the analysis, the price of the gold future was at 1 777 US dollars. In the daily chart shown here, the price trend to a new historical high can be seen. Starting from this high, the gold price had to give up its gains back to below the level of $ 1 700.

After the first test of the support zone around $1,690, the gold price worked its way down to the resistance of the SMA20 and tested this zone a second time. Currently, the price is in a slight recovery and can also hold above the support of the November low at the end of the week.

Gold price daily chart - challenging 2012 high levels
Gold price forecast: Possible support around November low is challenged (Chart: TradingView)

Resistance levels: 1 798.1 | 1 923.7 | 1 966.1
Support levels: 1 767.2 | 1 697.8 | 1 566.2
SMA200: 1 858.0

Gold price forecast: The return above the November low now results in a neutral chart picture. Based on a stabilization above $1,700, a sideways movement can now be expected in the area up to $1,830. Above that, the November high would move into focus as a target for rising prices.

Gold Price Forecast: Weekly Chart with resistance ahead

Last Update: April 25, 2021

The Gold price on the weekly chart was moving in an established uptrend and has reached a new all time high. Currently, we see the uptrend under pressure and gold price found first support around the level of $ 1 700.

Gold price predictions weekly chart - Possible Resistance at around $ 1 800
Gold Price prediction: Resistance at around $ 1 800 levels (Chart: TradingView)

Resistance levels: 1 798.1 | 1 923.7
Support levels:
 1 697.8 | 1 566.2

Gold price forecast: The longer term uptrend in the gold price is interrupted trough a strong technical correction. The area around 2013 high seems to give support. The 20-weeks SMA is heading down and could also cover higher prices in addition with the short term trendline. A price drop below $ 1 690 could lead to more weakness with target at $ 1 600.

Gold Price Predictions: Monthly Chart

Last Update: April 25, 2021

The Gold price on the monthly chart is moving in an established uptrend and has reached a new all time high at $ 2 089.2.

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

Resistance: 1 798.1 | 1 923.7
Support: 1 697.8 | 1 566.2

Gold price predictions: On the monthly chart, it looks like a cup with handle chart pattern could form. For this to happen, the share price would have to turn upwards at one of the next support zones. At the moment, the area around $ 1 690 seems to grant support.

Gold Price Predictions: Quarterly Chart

Last Update: April 25, 2021

The Gold price on the quarterly chart is moving in a correction within an established uptrend and expecting support around the 2013 high levels.

Gold price forecast based on quarterly chart
Gold price forecast: established uptrend with a correction from the all time high (Chart: TradingView)

Resistance: 1 798.1 | 1 923.7 | 2 089.2
Support:  1 697.8 | 1 566.2 | 1 450.9

Gold price forecast: The gold price could resume its upward movement out of the correction. For this to happen, the share price would have to turn upwards at one of the next support zones. At the moment, the area around $ 1 690 seems to be holding.

Gold Price Predictions: Historical Chart (Yearly Chart)

Last Update: April 25, 2021

The Gold price on the yearly chart is moving in an established uptrend and has reached a new all time high at $ 2 089.2 on August 7, 2020.

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

Resistance: 1 923.7 | 2 089.2
Support:  1 697.8 | 1 566.2

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 2019 at $1 566.2. The long term picture of the gold price could turns to negative if prices fall below the low of 2015 at $ 1 045.4.

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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