Gold Forecast November 12, 2012, Technical Analysis

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The gold markets did very little during session on Friday as the “risk off” trade slowed down, and as a result we think the markets took the day off in sense. The recent breakout shows that there are plenty of people willing to buy the metal for fear of a loose Dollar policy coming out of the United States which should continue to push gold prices higher. The fiscal cliff that looms out of America could also push gold prices higher, in the safety trade sense. The markets seem to be focused on what the central banks are doing as well, and this would include the fact that they are buying gold on the whole.

 

Gold Forecast November 12, 2012, Technical Analysis

Gold Forecast November 12, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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