The gold markets fell slightly during the session on Monday, but at the end of the day there really isn’t too much to discern from this move in. After
The gold markets fell slightly during the session on Monday, but at the end of the day there really isn’t too much to discern from this move in. After all, the $1100 level above is resistance, but the $1080 level below is support. We believe that the market bouncing around should continue, especially considering that it is a Nonfarm Payroll Numbers week. That of course has quite a bit of influence on the US dollar which in turn has quite a bit of influence on this market. Ultimately though, we think that the gold market still have farther to go to the downside.
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.
