Gold Price Trend Forecast 2020

Nadeem Walayat Marketoracle.co.uk

The gold bull market ended 2019 with a strong gain of 19%. The first half the year was marked with uncertainty as the price after an early year surge to $1350 gave up all of it's gains to drift lower to trade down on the year by early May. However, this was the calm before the bull market storm and that set the stage for a powerful bull run starting early June that saw the Gold price rocket higher to a early September peak of $1566, up over 25% on the year! Igniting Gold bug fever and encouraging prominent gold bugs to get carried away with headlines of Gold heading for $5000 and beyond.

However, the September high marked the start of a period of consolidation that just went on and on all the way into the end of November when off a $1446 low the Gold bull finally awoke with the price starting to trend higher once more, to end the year at $1520. With Gold rocketing to above the September high taking place early January when the drama queen in the White house launched his own rockets with the risks of igniting a new war in the Middle East, that luckily Iran proved incompetent at countering, including shooting down a passenger plane by mistake.

Author

Nadeem Walayat

Marketoracle.co.uk

Editor of MarketOracle.co.uk, is its resident financial analyst, with over 20 years experience in trading and investing in the financial markets using both Technical and Fundamental Analysis.

EUR/USD clings to daily gains above 1.1700, focus on WEF

EUR/USD is extending its weekly recovery for yet another day, trading beyond 1.1700 the figure on Wednesday, always on the back of the continuation of the renewed selling pressure on the US Dollar. Attention now turns to President Trump, who is due to speak at the WEF, an event that could offer some fresh clues on how EU-US relations might evolve from here.

GBP/USD meets some support near 1.3400

GBP/USD is finding it hard to extend its weekly advance, slipping back towards the 1.3400 area on Wednesday despite the slight decline in the Greenback. Earlier in the session, UK data showed annual headline CPI inflation ticking higher in the last month of 2025.

Gold: Next on tap $5,000?

Gold pushed its remarkable rally to a fresh all-time high near the $4,900 mark per troy ounce earlier on Wednesday. Risk appetite remains fragile as investors stay on edge ahead of President Trump’s speech at Davos, with EU–US tensions still simmering over the Greenland issue.

When is the US President Trump’s speech at WEF in Davos and how could it affect EUR/USD

United States (US) President Donald Trump is scheduled to deliver his speech at the World Economic Forum (WEF) in Davos after 13:00 GMT. Trump’s trip to Davos was delayed as Air Force One was forced to turn around due to a "minor electrical issue".

Greenland tariffs: What happened, and how to position for the new Europe risk premium

Over the weekend, President Trump threatened a new round of tariffs on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and the UK, with reporting flagging 10% from February 1 and a possible step-up later.

BNB Price Forecast: BNB loses strength as crypto market drops

BNB (formerly Binance Coin) loses ground as the broader cryptocurrency market falls, recording a 1% drop at the time of writing on Wednesday. Retail interest in the exchange token is declining, as evidenced by the massive wipeout of long positions and a decline in futures Open Interest.