Gold Prices September 4, 2012, Technical

By FX Empire Analyst - Christopher Lewis
Font Size
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The gold markets had a positive session on Monday, despite the fact that the Labor Day holiday in the United States made volume shrank. The massive positive bar that we saw on Friday certainly signals to us that gold wants to continue higher and quite frankly through this $1700 level. In fact, we are more than willing to buy at this point or pullbacks as we see nothing but good sign for the gold market going forward.

Some of our targets include the $1800 level, the $2000 level, and beyond. As for selling, we wouldn't bother with it at this point in time as this market seems far too strong in the Federal Reserve does in fact look ready to continue easing its monetary policy. In fact, it isn't in till we get below the $1500 level that we are willing to consider selling this market.

Gold Prices September 4, 2012, Technical

Gold Prices September 4, 2012, Technical

Want to read more articles like this one?

Get the latest fundamental analysis, technical analyses and the most up-to-date news catered to your interests, everyday.

* Please enter a valid email

Activation link was sent

An activation link has been sent to your E-mail.
You will start getting emails only after activating your account.

Find a Broker
Continue to FX Empire Network