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
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.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
