Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis
Gold daily chart, September 13, 2018

Gold markets were very noisy during trading on Wednesday, as we continue to see a lot of volatility around the world. The US dollar got a bit of a beating during the day as James Bullard suggested that an inverted yield curve could cause a recession. Everybody on Wall Street knows that, except for currency traders it seems. However, at the end of the day the Gold markets continue to face a lot of selling pressure due to the US dollar strength longer-term. There have been a lot of concern with emerging markets, and that should continue to be the case. I also recognize that we are a bit range bound, although I think there is some upward pressure to be found eventually. If we do break above the $1208 level, that would be a good sign. In the meantime, I think that rallies are selling opportunities on signs of exhaustion, as gold simply can’t seem to get its act together longer-term.

Know where Gold is headed? Take advantage now with 

75% of retail CFD investors lose money

I like buying physical gold when I get a chance, but obviously that’s a long-term play. In the short term, I think you need to continue to look at this as a range bound market and pay attention to recent highs and lows. The market certainly has more of a downward slant to it, but I also recognize that participants will be following the US dollar. The easiest way to do that with gold is to pay attention to the EUR/USD pair. If it rises, typically gold will as well.

Gold Price Video 13.09.18

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.