The Gold Price began 2019 with a continuation of it's strong December 2018 rally towards resistance at $1300 that was soon overcome propelling the Gold price higher to next resistance at $1350 by Mid February. Since when entered into a shallow downtrend all the way to the recent low of $1269. Which is particularly disappointing given that many Gold bugs had pinned hopes on safe haven demand in the aftermath of Trump trade war chaos tumbling stock markets since the start of May, not to mention a aircraft carrier group steaming towards the Persian Gulf, none of which is being reflected in the Gold price to date.

My last in-depth look at the Gold price was in September 2018 where my forecast conclusion was to expect the following trend for the Gold Price for the remainder of the year.

And here's the conclusion of that trend forecast that shows little deviation from the forecast trend.

At the time the mild relative strength against the existing forecast implied to expect the Gold price to have a better 2019 than 2018, which was inline with my Silver price forecast for 2019 of the time.

Now here we stand with the Gold price virtually back to where it started the year at $1281.

(Charts courtesy of stockcharts.com)

The rest of this analysis has first been made available to Patrons who support my work: Gold Price Trend Forecast Summer 2019

Trend Analysis
MACD
Trend Channels
Support / Resistance
Seasonal Analysis
US Dollar / Gold
Gold Price Trend Forecast Conclusion

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Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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