Gold markets rose during the course of the week, breaking above the $1330 level. The fact that we saw bullish pressure isn’t necessarily a surprise, as
Gold markets rose during the course of the week, breaking above the $1330 level. The fact that we saw bullish pressure isn’t necessarily a surprise, as the Federal Reserve has hesitated when it comes to the interest-rate hike. Ultimately, it looks as if the market is going to continue to grind its way higher, and therefore longer-term I believe that the gold markets continue to go much higher. Pullbacks should still offer quite a bit of support, especially near the $1300 level, which I see as the “floor” in the market right now.
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.
