Gold, silver forecast suggests bearish trends

Gold weekly forecast: bearish after robust NFP figures and an anticipated hawkish hold from the Fed.Silver weekly forecast: bearish after price

Gold endured a massively volatile week, spiking well above the prior all-time-high to create a new all-time-high around $2146.79 before reversing those gains and trading comfortably down last Sunday as prices overcorrected.

The rest of the week revealed price action failing to mount a sustainable recovery and ultimately prices continued to decline, particularly after NFP data provided the dollar a reason to claim back some lost ground. 30-day gold volatility has shown a tendency to spike higher and ended the week with a massive spike higher before ultimately closing towards the open, slightly in the green.

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