Gold markets initially rallied on Friday, but turned around to form a bit of a negative looking candle. It looks as if the market is going to continue to
Gold markets initially rallied on Friday, but turned around to form a bit of a negative looking candle. It looks as if the market is going to continue to go lower, so at this point any signs of exhaustion should be sold as far as I can see. I think that we can reach down to the $1100 level, and then perhaps even lower than that. I have no interest in buying the gold market at this point, as the US dollar continues to be so strong. With this, I believe gold continues to struggle.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
