Gold markets tried to rally during the course of the session on Monday, but as you can see struggled to keep those gains. With this, the market looks a
Gold markets tried to rally during the course of the session on Monday, but as you can see struggled to keep those gains. With this, the market looks a bit flat at this point in time in it looks like it isn’t going to do much. We think that the $1100 level below will continue to be supportive, but we also recognize that there is a lot of resistance above as the $1150 level has been important in the past. With this, we expect a lot of volatility, and that short-term pullback should offer short-term buying opportunities. However, we do not have any desire to hang onto long-term positions.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
