The gold markets did almost nothing during the session on Monday, gaining just 0.15%. The market presently is hovering right around the $1700 level, so we
The gold markets did almost nothing during the session on Monday, gaining just 0.15%. The market presently is hovering right around the $1700 level, so we figure that there is plenty of interest in both directions at this point. We do see support going all the way down to the $1680 level, so we still think that there is a high likelihood of supportive action in the near-term. However, we are at the end of the year, and entering the two most illiquid weeks on the calendar, so we may just see simple sideways drift for the next couple of sessions.
Gold Forecast December 18, 2012, Technical Analysis
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.
