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David Becker 
Gold Price Prediction: Gold prices rebounded after testing lower levels on Tuesday, edging up to resistance levels. U.S. Treasury yields moved lower along with the U.S. dollar which provided the backdrop of higher gold prices. The Atlanta Fed increased its forecast of Q1 GDP, expecting it will now show that the U.S. economy expanded by 10%.
Gold Price Prediction : Gold prices broke down on Thursday slicing through trend line support, as the dollar gained traction but U.S. yields eased. This followed a larger than expected decline in U.S. jobless claims ahead of Friday’s employment report.
Gold prices consolidated and closed the week up 1.5% as the dollar moved sideways, and U.S. yields remained stable. U.S. Existing Home Sales came in stronger than expected, rising to a 14-year high. The Senate confirmed Janet Yellen, who will become the first woman to hold U.S. Treasury secretary.
Inventories declined by 187 Bcf. Natural gas prices eased slightly on Friday, despite a larger than expected draw in natural gas inventories. Warmer than normal weather is expected to cover most of the United States’ mid-west for the next 2-weeks which is putting downward pressure on prices.
Gold prices consolidate their weekly gains on Friday as the dollar rebounded. The Greenback fell to a 33-month low on Thursday and continued to lift the week’s commodity complex. US yields moved higher despite a decrease in riskier assets. US leading economic indicators came out slightly better than expected while the US current account deficit widened by more than expected.
Gold prices moved higher on Wednesday and closed at fresh 8-years highs, despite a better than expected US industrial production report.
Gold Market Analysis — Gold prices broke out above trend line resistance and closed the session at a fresh 7.5 year high. The next level of target resistance is the April intra-day highs at $1,747.
Natural Gas Price Prediction – Natural gas prices whipsawed, tumbling more than 9% after breaking out above trend line resistance on Tuesday.
Gold prices dropped sharply on Thursday for the fourth consecutive trading session despite a decline in the dollar. It appears that gold and the dollar have been moving in lockstep which is generally not the case since gold is priced in dollars.
Gold prices consolidated after surging during the week rising 2.5% and closing at a weekly 7-year high. The next level of target resistance is the April high at $1,747. After that level, gold could rally to $1,921. A break of this 2011 level would lift gold into blue sky territory.