The gold markets had a relatively calm session, after gapping higher at the open on Monday. The market gain roughly 1%, and is now sitting above the $1450
The gold markets had a relatively calm session, after gapping higher at the open on Monday. The market gain roughly 1%, and is now sitting above the $1450 level again. With that being the case, we think that the $1550 level will eventually be targeted, although $1500 will certainly have a psychological impact on the buyers. We do not expect the move higher to be easy and quite frankly a pullback wouldn’t surprise us. But for those who are more long-term investors, this market should continue to offer profit in the long run.
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.
