Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis

Gold markets have rallied initially during the trading session on Thursday but gave back the gains to form a less than desirable candlestick. Nonetheless, we have seen a massive bounce as of lately, as earlier this week we had recaptured the $1800 level. The 200 day EMA which sits right in the middle of the candlestick from the Tuesday session should be thought of as a longer-term indicator that a lot of people will be paying attention to. Looking at the chart, I think it is only a matter of time before buyers would come back in on a pullback, especially as the Federal Reserve is going to continue to loosen monetary policy for the foreseeable future, so that should put upward pressure on precious metals in general.

Gold Price Predictions Video 04.12.20

Ultimately, I have no interest in shorting gold, at least not at this point so I think that short-term pullbacks probably offer value. At this point, I think that the 50 day EMA above is going to be a target, perhaps even the $1900 level. If we can break above that, then the gold market can continue to go much higher.

Know where Gold is headed? Take advantage now with 

75% of retail CFD investors lose money

While the market has seen a lot of selling over the last couple of months it has been very orderly, so that does suggest that there is still a lot of buyers underneath as there has not exactly been much of a “panic” in this market. All things being equal, I believe that we continue to go higher, so short-term pullbacks should continue to attract people who are trying to get involved in the market for the longer-term move.

For a look at all of today’s economic events, check out our economic calendar.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.