The gold markets gapped lower at the open on Monday, and broke down below the $1275 level. We fell from there, but started to see support near the $1260
The gold markets gapped lower at the open on Monday, and broke down below the $1275 level. We fell from there, but started to see support near the $1260 level. Because of this, I believe that the buyers are coming back, so therefore I am bullish and I believe that the gold markets will reach towards the $1300 level over the longer term. I believe that the $1250 level offers quite a bit of support, and selling isn’t even possible until we break below the $1240 level, which could signify even more bearish pressure.
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.
