The gold markets dipped slightly at the open on Friday, but found enough support near the $1320 level to turn around and continue to go higher. This was
The gold markets dipped slightly at the open on Friday, but found enough support near the $1320 level to turn around and continue to go higher. This was exacerbated by the lower-than-expected jobs number coming out of the United States, and that of course drove the US dollar down in general. Because of this, I believe that the market continues to be a “buy on the dips” situation, as the US dollar should continue to struggle. I believe that the $1300 level underneath continues to be the “floor” in the market, and as a result I think that the buyers will continue to profit. I have a target of $1400.
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.
