Gold markets rose during the course of the week, breaking above the $1330 level. The fact that we saw bullish pressure isn’t necessarily a surprise, as
Gold markets rose during the course of the week, breaking above the $1330 level. The fact that we saw bullish pressure isn’t necessarily a surprise, as the Federal Reserve has hesitated when it comes to the interest-rate hike. Ultimately, it looks as if the market is going to continue to grind its way higher, and therefore longer-term I believe that the gold markets continue to go much higher. Pullbacks should still offer quite a bit of support, especially near the $1300 level, which I see as the “floor” in the market right now.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
