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A Bullish Gold Price Forecast For The Next 6 Months

Commodities / Gold and Silver 2016 Feb 09, 2016 - 10:42 AM GMT

By: InvestingHaven

Commodities

Gold is on the move. As stocks are selling off big time, the gold market is the big beneficiary with a significant inflow of capital.

Is that any coincidence? No, it is not, because the gold market was deeply oversold. Next to that, and perhaps more importantly, sentiment hit rock bottom levels. When everybody and his uncle believes that stocks have only one way to go, i.e. up, the opposite usually happens. The same accounts to the precious metals market.


How high can gold go? Which gold price forecasts are realistic?

Analyst Rob Tovell identifies several gold prices forecasts in this 7-minute video. He has +3 decades of experience in analyzing markets, and follows the gold market very closely.

His take on things is that the $1106 to $1110 area is the most crucial area for the gold price. The gold market will retrace after the powerful move of the last three weeks; expect investors and traders to take profits soon. The point where the retracement will stop is crucial in determining the gold price in 6 months.

Tovell’s first target is the $1226 area, the second target is $1271, and the third target is $1345. The fourth, and most bullish, gold price target will be dependent on the retracement, which is where the crucial price point of $1110 comes into play.

Check this short video for Tovell’s gold price forecasts.

Did the gold bear market end?

That is a question that is top of mind of gold investors. Rob Tovell provides insights into this important question. He believes this time could be different, and explains what investors should watch? Check the video between 5:15 and 6:55 for the answers.

http://investinghaven.com

Analyst Team
The team has +15 years of experience in global markets. Their methodology is unique and effective, yet easy to understand; it is based on chart analysis combined with intermarket / fundamental / sentiment analysis. The work of the team appeared on major financial outlets like FinancialSense, SeekingAlpha, MarketWatch, ...

Copyright © 2016 Investing Haven - All Rights Reserved 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 losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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