The gold markets did very little during the session on Thursday, but it did prove that the 1180 level is supportive. Because of this, we think that the
The gold markets did very little during the session on Thursday, but it did prove that the 1180 level is supportive. Because of this, we think that the gold markets are about to start bouncing again, but it’s probably more or less going to be a short-term opportunity more than anything else. We believe that the market isn’t a very safe one to be involved in for any real length of time until we break out above the 1220 level. With this, we think that there is more of an upward bias at this point, but it is still going to be choppy nonetheless.
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.
