Gold Price Forecast Target Of $1700 By March

Technical Analysis Expert & Editor @ GoldPredict.com
January 22, 2020

gold price forecast image

Precious metals and miners are consolidating before their next advance. Gold prices could reach $1700+ by March, and we see explosive potential in silver. 

Mid-cycle consolidations are normal and part of every cycle. After rallying more than $165 from the November low, gold is taking a well-deserved breather. Bullish sentiment is waning, and the next advance should carry the uptrend into March. 

GOLD

Gold is in the midst of a natural mid-cycle consolidation. Once complete, gold prices should extend to the March target box and approximately $1700. 

SILVER

The current setup in silver is favorable and similar to that of last July. Prices should stabilize over the next few days and commence the next leg higher. Our forecast calls for an accelerated advance that exceeds the 2016 high of $21.25. 

GDX

Despite lower gold and silver prices yesterday, miners rallied, closing 1.83% higher. A positive sign indicating miners should lead the next advance.

GDXJ

The junior mining ETF is nearing a potential breakout above $43.00. It could see outsized returns into March if silver prices spike above $21.00 as expected. 

Our precious metals and mining forecast expects a bullish surge into February and March. Our system is long NUGT and USLV. 

buy gold

AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For more information, please visit https://goldpredict.com/

AG Thorson is a registered CMT through the MTA and an recognized expert in technical analysis of the precious metals markets. He is also the Editor of GoldPredict.com where members receive daily updates and regularly scheduled reports 3-days a week. He prides himself on making his analysis easy to understand through the use of adaptive and creative charting methods. You can reach AG at [email protected].

A gold nugget can be worth three to four times the value of the gold it contains because they are so rare.

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