Gold markets went back and forth on Thursday, essentially settling nothing. It appears that the $1200 level is going to be like a magnet for price, so
Gold markets went back and forth on Thursday, essentially settling nothing. It appears that the $1200 level is going to be like a magnet for price, so therefore we don’t really have much in the way of a trade at this moment. We believe that the market will continue to grind away and therefore it’s going to be very difficult to put any money into this marketplace anytime soon. We recognize that there is a larger consolidation area between $1220, and $1180. Until we get out of that area, gold for the most part is going to be a dead market.
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.
