Gold markets softened a bit during the day on Tuesday, as we remain below the $1330 level. We are currently treading water at the bottom of the gap from
Gold markets softened a bit during the day on Tuesday, as we remain below the $1330 level. We are currently treading water at the bottom of the gap from several sessions ago, so we could get a bit of a bounce from here. However, I am not comfortable buying gold until we break above the $1330 level again, so at the moment I am on the sidelines. A breakdown below the $1320 level has me looking for the $1300 level again, so it’s a matter of letting the market tell me which direction to trade.
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.
