Gold Price Analysis and Forecast Today, September 15

Introduction:
In today’s gold price analysis and forecast for September 15, spot gold surged significantly to $3,681.29 per ounce, recording a strong increase of 1.05% from the previous session’s close. This substantial rise is driven by strong buying from institutional investors amid renewed recession concerns and expectations of more accommodative monetary policies by global central banks.

Gold Price Analysis and Forecast Today, September 15

Market Overview:
The trading session witnessed strong buying flows into the precious metal, with gold breaking through the $3,680 level for the first time in several weeks. Trading volumes in gold futures contracts on COMEX were 40% above the monthly average, reflecting the strength of buying momentum. Today’s market analysis shows a clear shift in investment sentiment toward safe-haven assets.

Key Drivers of the Rally:

1.  Worsening Recession Concerns:
    * Emerging signs of slowing economic growth in the United States and the European region
    *  Impact: Increased demand for gold as a safe haven from potential economic volatility

2.  Expectations of Accommodative Monetary Policies:
    * Anticipations that central banks will begin cutting interest rates in the coming months
    *  Impact: Lower real yields enhance gold’s investment appeal

3.  Weak Performance in Global Markets:
    * Major global indices declined by 1.5-2%
    *  Impact: Capital shifting from equities to safe-haven assets like gold

Technical Outlook:
*  Key Levels:
    *  Immediate Resistance: $3,695 – $3,700 (strong psychological and technical barrier)
    *  Main Resistance: $3,720 (top of the upward channel)
    *  Immediate Support: $3,665 (21-day moving average)
    *  Main Support: $3,640 (previous support zone)

*  Technical Indicators:
    * Relative Strength Index (RSI): At 72, indicating strong bullish momentum with entry into overbought territory
    * Moving Averages: Price trading above all key moving averages
    * MACD: Showing continued strong bullish momentum

Trading Expectations:
*  European Session: Bullish trading expected in the $3,675-$3,695 range
*  US Session: Potential test of $3,700 resistance
    *  Upside Scenario: Break above $3,700 could open the way toward $3,720
    *  Downside Scenario: Break below $3,665 could attract some profit-taking

Trading Advice:
* Enter buy positions near $3,670
* Take profits near $3,695-$3,700 levels
* Set stop-loss below $3,650

Conclusion:
Gold is experiencing a strong rally supported by economic concerns and expectations of accommodative monetary policies. The ability to maintain above $3,680 indicates continued upward momentum. Any pullback toward the $3,650 support level is viewed as an additional buying opportunity for medium-term investors.