Gold Prices September 3, 2012, Technical

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The gold markets took off after the federal reserve Chairman gave his speech in Wyoming on Friday. The market slammed up towards the $1700 level, and it should be noted that it closed out at the very highs for the session. This suggests to us that we are simply going to continue to grind much higher.

If there ever was a market that had all of the fundamentals and technical indications lining up in the same direction, it is the gold market currently. We cannot stress enough how selling this market is complete and total folly, and would only buy its on dips that show support. Also, we would consider buying it on a daily close above the $1700 level.

Gold Prices September 3, 2012, Technical

Gold Prices September 3, 2012, Technical

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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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