Gold Price Forecast and Longterm Prediction

In this article we make a Gold price prediction and longterm forecast. We would like to give an assessment of the further price development of the Gold price in US-Dollar. We 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 Yearly Chart (12 month chart) showing the long term uptrend

Longterm Chart of the Gold Futures prices
Yearly chart showing Price of Gold Future in longterm uptrend

The correction from the alltime high to the low of 2015 at $1,045,5 was very close to the 50 % Fibonacci retracement at $1,089,4 calculated for the long uptrend from 253.20 to the alltime high.

In the yearly chart of Gold shown above, we see a long-term upward trend with an all-time high at $1,923,7 in 2011.

The blue line is an 20 years moving average of the price, which is also rising.

Important Highs and Lows

HighsLows
$873 – January 21, 1980$10 – August 25, 1976
$1923.70 – September 6, 2011$253.20 – July 20, 1999
$1697.80 – January 17, 2013$1045.40 – December 03, 2015
$1566.20 – September 4, 2019$1267.30 – May 02, 2019

Next let’s take a look on the quarterly chart.

Gold Quarterly Chart (3 month chart) showing uptrend

Quarterly longterm chart of Gold Futures prices
Quarterly Chart of Gold Futures Prices from 2011 until 2020

In this quarterly chart of the Gold Futures prices we can see more details of the price movement. I have again included a 20 period moving average (blue line).

Important Highs and Lows

HighsLows
$1,697.80 – January 17, 2013$1,466.20 – November 12, 2019
$1,566.20 – September 4, 2019$1,519.70 – Januar 2, 2019

The 20 period moving average is rising and containing the price action.

From the correction low in 2015 we see a continuing price increase.

Let us continue our review with a look at the monthly chart.

Gold Monthly Chart

Gold Future monthly chart showing uptrend of Gold prices
Gold prices moving in an uptrend from the 2015 low

Starting from the correction low in December 2015 at $1,045.4, Gold futures price was able to regain significant ground and move upwards in an longterm trend channel.

The 20-period moving average shown on the chart is also in the correction low range.

The next import Fibonacci Retracement is $1,685.6, where we see the 78,6 % retracement of the downtrend from the alltime high to the 2015 low.

Gold price prediction and longterm forecast February 2020

The long term uptrend in Gold Futures price is stable and next price target could be $1,686,5.

From a chartist perspective, the probability that this could happen is relatively high. It will then finally become clear whether Gold can develop the strength to break through to the historical high.

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.

*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.

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