Gold markets fell significantly during the course of the session on Tuesday, as we are well below the $1150 level now. With this, we feel that the market
Gold markets fell significantly during the course of the session on Tuesday, as we are well below the $1150 level now. With this, we feel that the market will then head to the $1125 level next, and then perhaps even lower than that. In the short-term, the only thing we can do is sell gold on short-term rallies, and of course a break down below the bottom of the range for the session on Tuesday. We have no interest in buying gold at the moment, and believe that more downward pressure is on its way.
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.
