To learn more click here
The gold markets fell precipitously during the session on Wednesday as appetite for risk diminished. However, we are sitting just above the $1760 level, which has been supportive over the last couple of weeks. In fact, there is a hammer from two weeks ago that shows support all the way back to $1740, and as such we feel that this market only has a limited amount of downside.
With this in mind, we are buying supportive candles as they appear in this marketplace as we believe in the long-term story for gold. With central bank such as the Federal Reserve printing is much currency as they can, gold will eventually go much, much higher.