Gold Price Forecast: Gold to Retest December Highs

Gold price recaptured the $1,800 threshold and finished Wednesday nearly multi-day tops of $1,805. Gold price looks to retest December highs amid bullish technical setup. Wednesday’s sharp gains have helped gold recapture all the major Daily Moving Averages (DMA), underpinning the bullish sentiment.

Gold Price Forecast

Gold bulls could retest the daily highs at $1,809, above which a fresh advance will kick in towards the December highs of $1,814. The next critical target for bulls is seen at the $1,820 round number.

Gold Price
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The 50-DMA at $1,800 is the immediate line of defense for gold buyers, below which hopes are stacked up at the 200-DMA of $1,796. If the sellers remain in complete control, then the additional downside could open up towards the 100-DMA at $1,788, which will be the line in the sand for gold optimists.

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Gold Price Forecast: Gold to Retest December Highs via @marketinvestor
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