2010 Q4 – Gold Price Forecast

The following paragraphs summarize the work of “2010 Q4 – Gold Price Forecast” experts who are completely familiar with all the aspects of “2010 Q4 – Gold Price Forecast”. Heed their advice to avoid any “2010 Q4 – Gold Price Forecast” surprises.

2010 Q4 Forecast on Gold Price Trend: (28 Oct 2010)

(I.) A Quick Summary of What Happened in Q3

After the Q2 public meeting so as to quick bullion cost up to a new peak of USD1265.1 (June 21, 2010), a technological correction in progress as of the start of July 2010. Falling as of 1265.1 to 1156.7 (July 28, 2010). The lowest in Q3 was 1156.7. Gold cost went from side to side a 8.56% correction.

However, the technological correction merely lasted for the month of July, and bullion cost in progress one more public meeting as of the create of August. Rising as of to Q3′s low at 1156.7 to 1315.8 (September 30, 2010). A 13.8% increase, increasing by USD162.1.

Q3 Peak: 1315.8

Q3 Low: 1156.7

Q3 trend: July – correction, August to September – Rally

Gold cost establish physically powerful hold up at 1160-1180 area, and almost immediately regained up,uphill momentum to smash on top of 1200 and entered the 1220 area. From the create of August, a straight public meeting with no considering any additional big scales technological corrections.

Strong hold up at 1200 following the July correction, and bullion rose sharply on top of key confrontation custom of 1226, 1245, 1265, 1278, and 1300.

Although technological indicators divide physically powerful cipher of over-bought, bullion cost did not see any main corrections. Some minor pullbacks quick place, but the overall trend remained bullish. Each occasion present was a USD10 – USD15 pullback, the high-quality deal hunters came in rapidly and bullion cost was on a go up to new peaks.

The uptrend saw a “step-by-step” add to in August and September. After bullion cost contravention on top of 1300, every key hold up cost height was tested preceding to a new peak was achieved.

Fundamentals That Supported The Gold Price in Q3:

Risk hunger for bullion was very high, as USD directory fell as of 84 to 78. US Dollar entered a dip and investors turned to the yellow serve as an option investment. US monetary system saw feeble employment and accommodation data, and revival was motionless faced by means of uncertainties. US Fed eased monetary policy so as to corporation the US Dollar downward after that to additional main currencies. Euro strengthened and traded on top of 1.400.

Apart as of the physically powerful investment demand for the yellow metal, bodily demand for bullion too saw an increase. India and China now physically powerful management of the yellow metal. China too announced so as to contain counting unlock up bullion trading similar to construct additional pushed the cost on top of 1300.

(II.) NOW, Going eager on Forecast for Gold Price Trend in 2010 Q4: (A Rally Season)

The public meeting as of September continued eager on riches 2010. US Dollar Index continued to be weak, and information as of the US Fed so as to contain counting put eager on practice a 2nd round of Quantitative Easing Policy additional pushed commodities management up. A new peak was achieved at 1387.1 (October 14, 2010).

We forecast 2010 Q4 determination see a continued public meeting to the end of 2010, and shall see a technological correction preliminary at the end of December 2010. Another new peak might be achieved throughout Q4, and we stay for an new peak might be inside the USD1420-1450 area.

Technical Analysis for 2010 Q4 Gold Price Trend:

[A.] Looking at the Weekly Gold Price Chart:

The yellow metal’s cost is motionless in,within the Uptrend Channel so as to in progress in 2008. As extended as it stays in,within the Uptrend Channel, the long-term trend is motionless up.

[B.] Looking at the Daily Price Chart:

Gold cost went from side to side a technological correction in Q1, public meeting in Q2, correction after that public meeting in Q3, and we stay for Q4 to see a public meeting to a new 2010 peak, followed by a main correction.

(1.) The Upper Resistance Line - unpack top confrontation prices. Using the present trend lines, USD1474 counting appear to be the maximum confrontation price. Each occasion the cost touched petroleum line, present was a major correction of approximately 15%.

For example:

2009 Dec’s peak at 1226 led to a correction of 14.8% to 1044 in January 2010.

2009 Feb’s peak at 1006 led to a correction of 14.1% to 864 in April 2008.

(2.) The Medium-term Resistance Line- unpack so as to every occasion a new peak touches the medium-term confrontation line, bullion cost sees a minor correction of approximately 5% – 10%.

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For example:

2010 Jan: cost touched the medium-term confrontation row at 1161, and went from side to side a minor correction of 10.07% to 1044.1

2010 May: cost touched the medium-term confrontation row at 1249, and went from side to side a minor correction of 6.6% to 1166.

And, 2010 Oct: the cost touched the medium-term confrontation row at 1387, and hit 1315, a 5.2% minor correction.

(3.) The Lower Support Line- unpack the ultimate base hold up management for the trend. If it fell from side to side petroleum line, the Long-term Uptrend might be collapsed.

As the uptrend is motionless in place, every occasion bullion cost touches petroleum line, present is a physically powerful rebound.

2010 July 28: it touched the Lower Support Line at 1156.7, and saw a physically powerful public meeting eager on 1387.

** Forecast Gold Price Trend for 2010 Q4: (Using the on top of Lines)

(a.) Key Upper Resistance Area to Watch:

Between (1.) The Upper Resistance Line and (2.) The Medium-term Resistance Line is 1387 – 1474.

(b.) Key Lower Support Area to Watch:

Between the two base Support Lines: 1266 – 1229

(c.) 2010 Q4 Trend:

After new peak at 1387 – a correction of concerning 7% to approximately 1310

Then a public meeting eager on 1400 – 1420 – 1450 area

Followed by a main correction of concerning 15%, by means of the correction preliminary thanks the end of 2010

[C.] Using the 8H Chart:

The chart underneath outlines the key confrontation and hold up management in 2010 Q4.

(a.) Horizontal hold up price: 1229 (if bullion cost fell from side to side 1229, after that the long-term uptrend might collapse, and might drop rear t0 USD1000)

(b.) Horizontal confrontation price: 1474

(c.) Other Key Resistance Prices:

1352, 1360, 1371, 1386, 1400, 1412, 1426, 1434, 1444, 1452, 1460, 1470

(d.) Other Key Support Prices:

1324, 1315, 1304, 1286, 1272, 1258, 1230

Fundamentals affecting 2010 Q4:

US Dollar shall carry on to be weak, and attention tax shall be reserved at present low levels. While employment and accommodation information shall see slowly better statistics, US Dollar shall be feeble for a few additional months. The yellow serve shall carry on to draw investment demands as “safe haven” issue shall motionless be a key hold up for price’s up,uphill trend. Overall similar to prospect for cost to smash on top of USD1400, and investors shall be pending in at what time pullbacks occur every time. The long-term trend for bullion leftovers bullish as similar to motionless see bullion as an good-looking investment vehicle after that to uncertain similar to conditions.

Summary:

The Gold price’s public meeting is predictable continue, and as extended as it stays inside , it is rising by a step-by-step pattern, a new past peak might be reached at 1420-1450.

Now might be a good time to write down the main points covered above. The act of putting it down on paper will help you remember what’s important about “2010 Q4 – Gold Price Forecast”.

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