XAU/USD Gold price forecast for August 13, 2018

Gold forecast for 13.08.2018 is written at a price of $ 1209 per Troy ounce.

If you look at the daily or even weekly chart of gold prices, we will see a downtrend. The gold rate has been falling for 4 months in a row. In April, gold prices of XAU/USD reached 1400.

However, right now the price of gold has reached a very important support level of 1200. The last time gold tried to gain a foothold below this level a year ago. Tried to no avail.

XAU/USD Gold price forecast for August 13, 2018

Gold prices are below the Ichimoku cloud, which indicates a downward trend in gold. Signal lines of the indicator are intertwined, this indicates a sideways trend in gold.

The resistance level for the gold XAU/USD is 1211.5 (signal lines of the indicator). Then follows 1213-this is the lower boundary of the Ichimoku cloud. Support level-1204.

We assume that an attempt will be made to test the level of support. However, before this, a short-term rollback to the resistance area is possible.

Thus, GOLD gold forecast for August 13 suggests an attempt to test the support level of 1204.