Forecast for the Price of Gold in 2018
With the recent vertical spike in Bitcoin and gold hovering around the same point it has for several years, it’s looking like gold and silver are due to catch a rocket in 2018. With the dollar bear market and closer examination of the market and price action fundamentals for gold, the monthly charts for the Dow Jones and its exponential, parabolic growth in the last few months are spelling potential doom for stock market and equity prices.
Stock market correction could hit $18,000 for DJI
Experts are predicting the market’s top heavy status to see a near term reversal in the coming year. A rollover of stock prices is expected as the stock market has made unparalleled record highs in 2017, while the US dollar has lost about 12% of its buying power.
What does this all mean for Gold and Silver?
Short term gold and silver may appear somewhat weak at first glance, but looking past the superficial veil of the metals market demonstrates that according to technical analysis, we’re seeing a price for silver coiling up and being primed for a massive breakout to the upside. As is usually the case, gold and silver prices follow each other and with a “stable” US dollar i.e. weak dollar and over priced stock market, with bond yields going flat, gold and silver could see some significant buying activity and price upticks in the medium to long term future.
2018 is shaping up for gold pretty well, so this is good news for people who are considering investing in a Gold IRA rollover.