Gold is observing a whipsaw movement during the end of the week. The risk-off sentiment is giving more room to the gold bulls. The long-term view of gold is still bullish amid rising inflation. Yesterday, the gold price began with a corrective decline but then rose rapidly. Things change so fast in forex trading market. The peak was the level of $1,819.50, but the bullion could not stay close to it. By the end of the session, Gold dived to $ 1,800.20. As a result, the difference with the previous trades amounted to $ 1.90, or 0.1%. Gold was saved from significant losses by the US dollar’s simultaneous drop and the yield on US government bonds, which fell to the February lows. In addition, on Thursday, amid growing concerns about a slowdown in economic activity, the main US stock indexes also collapsed. They had their worst intraday performance in the last 3 weeks. On the one hand, the securities market collapse helped the precious metal stay above the psychological mark of $ 1,800. But, on the other hand, a large-scale sell-off of risky assets also entailed a panicky farewell to safer assets, which traditionally include Gold. Despite this, on Friday morning, the yellow metal could resume the rise again, finding support in the news of coronavirus. The active spread of the aggressive Delta strain casts doubts on the further economic recovery in the world. Against this background, the investment attractiveness of safe-haven assets, including Gold, is growing. For Gold, this factor should become one of the key catalysts for growth in the medium-term. – If you are interested in making use of Forex Robots for your trading needs check out our guide – Gold’s long-term view Gold prices could rise significantly in the next few years, as inflation has already arrived and will cause panic among gold buyers. Now there is already 5% inflation and we can say with the confidence that it will hold out for six months or even a year with this indicator. This may lead to a huge increase in prices, as was the case in the 1970s. Printing money around the world will not go without consequences. The consequences will begin to manifest themselves as early as next year. One of the very important elements that are currently missing from the risk of rising prices is the psychology of inflation. Get FREE Crypto Signals Now! There were two elements in the 1970s: inflation and inflationary psychology. The proof of this was the 1973 Arab oil embargo, which led to a sharp rise in oil prices. At this time, there is only inflation, but no inflation psychology. However, in 2022, nothing prevents this from changing. The famous social trading platforms are also pointing at long-term gains in the gold price. Gold technical forecast: Will bulls conquer? The 4-hour chart of Gold remains neutral at the moment as the price maintains a narrow range within the 200-SMA and 50 SMA. The 20-SMA is also a little flattening which shows a neutral tone of the asset. The volume is slightly rising while the price consolidates. It shows a mildly bullish tone. However, further clarity can be found once the price breaks 200 SMA or 50 SMA. 4-hour chart of Gold Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Commodities share Read Next Stellar Lumens Price Forecast: Further Bearish Pressure Persists Gerald Fenech 1 year Gold is observing a whipsaw movement during the end of the week. The risk-off sentiment is giving more room to the gold bulls. The long-term view of gold is still bullish amid rising inflation. Yesterday, the gold price began with a corrective decline but then rose rapidly. Things change so fast in forex trading market. The peak was the level of $1,819.50, but the bullion could not stay close to it. By the end of the session, Gold dived to $ 1,800.20. As a result, the difference with the previous trades amounted to $ 1.90, or 0.1%. 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