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Gold Price Forecast August 23, 2017, Technical Analysis
Updated: Aug 23, 2017, 04:34 GMT+00:00
Gold markets fell during the Tuesday trading session as we are starting to see a little bit more stability in the financial markets. Some of the fear
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Gold markets fell during the Tuesday trading session as we are starting to see a little bit more stability in the financial markets. Some of the fear trade is starting to abate, and that is negative for gold, at least in the current situation. The question will be what comes out of Jackson Hole, and more importantly – Janet Yellen. She will decide what happens with the US dollar next, and that will most certainly have an effect on where gold goes. Because of this, we may have a quiet session ahead of us, as we continue to churn. At this point, the $1300 level is obviously a major resistance barrier.
Gold Outlook Video 23.8.17
About the Author
Christopher LewisSenior Analyst
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.
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