Gold Price Forecast: Subdued Rebound Keeps Bearish Trend Intact

collected by :kiven Dixter

Gold Price Forecast: Subdued Rebound Keeps Bearish Trend IntactGold prices are back under pressure, with the U.S. dollar gaining ground against its major counterparts, and the precious metal may continue to consolidate over the remainder of the week as market attention turns to the Federal Open Market Committee (FOMC) interest rate decision on August 1. The ongoing skew in retail positioning offers a contrarian view to crowd sentiment, with the broader outlook for gold still tilted to the downside both price and the RSI continue to track the bearish trends from earlier this year. For more in-depth analysis, check out the Q3 Forecast for GoldInterested in having a broader discussion on current market themes? Sign up and join DailyFX Currency Analyst David Song LIVE for an opportunity to discuss potential trade setups! Review the 'Traits of a Successful Trader' series on how to effectively use leverage along with other best practices that any trader can follow.

Gold Price Forecast: Post-NFP Rebound Aligns with Bearish Sequence

For more in-depth analysis, check out the Q3 Forecast for GoldInterested in having a broader discussion on current market themes? Sign up and join DailyFX Currency Analyst David Song LIVE for an opportunity to discuss potential trade setups! Additional Trading ResourcesAre you looking to improve your trading approach? Review the 'Traits of a Successful Trader' series on how to effectively use leverage along with other best practices that any trader can follow. Download and review the Top Trading Opportunities for 2018.

Gold Price Outlook: Bearish Trend Still in Place

as declared in Gold price, news and analysis:The price of gold continues to fall and could yet ease further. The US Dollar is firm, safe havens are currently being shunned by investors and physical gold demand is weak. Our trading forecasts for Q3 have been published; you can find the Gold guide here. Gold price outlook poorThe price of gold remains in the downward trend in place since mid-April and could yet ease to the $1,200 per ounce level. Gold Price Chart, Daily Timeframe (April 1 – July 30, 2018)Chart by IGRead more: How to Trade Gold: Top Gold Trading Strategies and TipsGold demand weakThe World Gold Council noted earlier this month that that three factors have likely held gold back: a strengthening US Dollar, higher investor threshold for headline risk, and soft physical gold demand.