Gold markets initially fell during the week but found enough support near the $1275 level to turn things around and reach towards the $1300 level.
Gold markets initially fell during the week but found enough support near the $1275 level to turn things around and reach towards the $1300 level. However, we have not been able to break above there yet, and I believe that continues to offer a significant amount of resistance. If we were to break below the $1275 level, the market should then go down to the $1250 level. If we can break above the $1300 level, and then I think we probably go looking towards the $1340 level after that. Either way, I think this is can be driven by the US dollar.
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.
