Gold Forecast: Markets See Volatility During FOMC

Looking at this chart, you can see that the market will continue to be very noisy, but I think it is also going to be difficult to navigate with any type of size. The market will continue to struggle with the idea of directionality, especially as inflation has been without a doubt one of the biggest concerns. Gold typically does okay during inflation, but it also has to worry about what we are going through when it comes to the idea of the US dollar all over the place as it is.

To the downside, if we break down through the $1800 level, then the market will go much lower. At that point, we would see a lot of downward pressure, perhaps crashing the market. That being said, this market continues to be noisy and you need to be very cautious about yourGold remains very thin at times, and it can be very difficult to deal with. I think the next few days could be very difficult, so you will have to remain nimble to say the least.

The market will continue to see these sudden spurts of volatility as we are trying to figure out monetary policy going forward.

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