Gold Bar Forecast

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  1. Gold Bar Weather 10 Day Forecast
  2. Gold Bar Wa Weather Forecast

Gold Price Forecast – Gold Markets Continue to Find Choppy Action. Gold markets pulled back initially during the trading session on Wednesday but as we have seen multiple times, the 50 day EMA. June gold (GCM21) on Tuesday closed down -15.80 (-0.88%), and July silver (SIN21) closed down -0.402 (-1.49%). Gold and silver prices on Tuesday gave up early gains and settled moderately lower. A rally in the dollar index to a 1-1/2 week high on Tuesday weighed on precious metals along with hawkish comments from Dallas Fed President Kaplan. The local report for Gold Bar, WA provides detailed current weather conditions on humidity, rain or snow precipitation, barometric pressure, dew point, heat index or wind chill factors, hourly forecast, sunrise, sunset, wind speed with direction, along with high and low temperatures presented in Fahrenheit and Celsius.

After a prolonged decline, gold miners are showing signs of strength. The analysis below supports an immediate breakout and renewed uptrend in precious metals and miners. If all goes well, gold prices should work their way back to the $2000 level by August.

Gold investors need to have nerves of steel. Corrections in this space are trying events due to their duration and severity. The last 8-months were no exception. Investor sentiment reached downright despair in March, and that sealed the bottom. If you are still standing - congratulations!

Gold

Gold Bar Weather 10 Day Forecast

Daily Gold Chart

Gold Bar Wa Weather Forecast

Gold is confirming a double bottom breakout, and prices should begin to stairstep their way back towards the $2000 level, possibly by August. I continue to see deep value in gold miners and believe they will outperform metal prices moving forward.

Gold Monthly Chart

Forecast

Below is the Monthly chart. Gold broke above the 6-year base and confirmed a new bull market in 2019. Prices have pulled back to the 20-month moving average (first test in a new bull market). The last time this setup occurred was in 2004.

I believe gold will reach $8500+ later this decade - with a real chance...

Gold continues to trade weakly. The precious metal is down $13 for the month of March, $180 thus far in 2021, and some $374 since the all-time high of $2,074 was recorded in the spot market in August of last year.

That said, what is in store for the second quarter of 2021 and beyond?

While we do not have a crystal ball, we can make a high-probability assessment for where gold may bottom based on a study of where large buyers have emerged during recent years.

Gold’s Recent History

To look for high-probability bottom zones for gold, let us study the price action from 2018 through present:

Above we can notice certain critical points:

Weather
  1. The correction which began in August 2020 at $2,074 per ounce has featured a steady series of lower-highs and lower-lows. This overlapping price action is corrective in nature.
  2. Importantly, gold’s peaks have been declining at a steeper slope than its lows. In other words, buyers are emerging at relatively higher intervals than the sellers. This is a bullish indication. We can see that this converging correction is thus taking the shape of a bottoming wedge (blue), which has an apex in June 2022.
  3. Gold has a primary rising trend of support (solid blue), which...
ForecastHigh / LowPrecip.Wind (gust) / Humidity
68°
3%
5 mph (9 mph)
Conditions: N/A
May 11
44°
--
69% humidity
Conditions: N/A
73°
6%
3 mph (8 mph)
Conditions: N/A
73°
4%
2 mph
Conditions: N/A
May 14
48°
19% PM
69% humidity
Conditions: Slight chance of light rain showers.
67°
31%
3 mph
Conditions: Chance of light rain showers.
May 16
48°
--
69% humidity
Conditions: Slight chance of light rain showers.
Gold Bar Forecast
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