Gold Price Forecast: Gold Price Remains Below $1,800

The gold price contract gained 0.20% on Monday, as it slightly extended its Friday’s advance. The market continues to fluctuate following the late November decline and a breakdown below the $1,800 level.

Gold Price Forecast: Gold Price Remains Below $1,800

It sold off in a reaction to strengthening U.S. dollar and volatile stock prices, among other factors. This morning gold is trading along its yesterday’s closing price. Gold is 0.1% lower this morning, as it is still trading below the $1,800 level. What about the other precious metals? Silver is 0.8% lower, platinum is 0.1% lower and palladium is 0.1% lower.

So precious metals’ prices are slightly lower this morning. Today we will get the important Producer Price Index release at 8:30 a.m. The markets will be waiting for series of data announcements on Wednesday, including the important FOMC Statement release.

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Gold Price Forecast: Gold Price Remains Below $1,800 via @marketinvestor
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