The short-term forecast for gold is clear: the metal is set to move higher. Gold has just put in an intermediate low at $1,238 per ounce as of July 3, 2018. Several leading indicators point to an imminent recovery in prices over the next 1-3 months.

However, the longer-term picture for the precious metal is mixed: gold must overcome its 2016 high at $1,378 within the next six months to avoid a significantly bearish outcome that could result in a multi-year decline following such a failure.

The time to closely monitor gold’s price action for one of these scenarios is now.

 

 

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