Gold has finally touched the $1800 mark

Gold has finally crossed the $1800 mark today. This friday has proven to be very lucky for Gold but how long will it stay like this is a question making investors uncomfortable. The market has closed leaving most investors in a state of confusion as the trend line suggests a bearish outcome on Monday but the optimism suggests a bullish growth.

(Source: OctaFx Trading App) 

It is interesting to note that Gold had fallen to the lowest $1784 on Thursday and experts predict how the same outcome is expected sooner or later. Right now the strong position of Gold might be a partial outcome of the unemployment rate in the US which has been troubling the superpower since a long time now. This rate was calculated to be around 6.3% and experts have declared this a reason behind the spark in Gold investments. On the other hand, influential personalities like Eren Sengezer see this trend in the following way:

XAU/USD looks vulnerable despite reclaiming $1,800 on Friday 

This being said, I've gathered some data from the past week and I can predict a definite rise in the Gold value before a gradual decline. The bullish trend will continue for a while before turing into a bearish trend. In my opinion, the gold value will rise to somewhere between $1820-$1825 before consistently declining back to $1800 or maybe $1805.


So a smart way to move right now would be to buy some lots and set a take profit value of around $1818. With a 0.05 lot size and $1818 take profit value you will earn around $21 in no time, keeping in mind that the current value of Gold is $1814.59 (Friday, 11:10 GMT). On the other hand, another way to earn a decent amount would be to wait for the market to open and let the Gold reach its full potential. Set the sell order at $1822 and take profit at $1813 with a lot size of 0.05 and you might earn around $44. 


Of course, the real market data might differ, these are only predictions based on the trends that I've noticed since the last few days. While most people predict a bullish trend in the coming week, I predict a bearish trend eventually. Keep in mind that Gold went to a record breaking price of $2090 back in August last year and since then it has been declining consistently. If majority is predicting a bullish trend, that does not necessarily mean it would continue rising.

For now, keep your fingers crossed and wait for the market to reopen. Let me know what your prediction is in the comments section below.

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