Gold markets rose slightly during the course of the session on Thursday, but remains well within the consolidation area bordered by the $1080 level on the
Gold markets rose slightly during the course of the session on Thursday, but remains well within the consolidation area bordered by the $1080 level on the bottom, and the $1100 level on the top. With this, the market looks like it isn’t ready to do much, and as a result we are on the sidelines. However, we recognize that a break above the recent consolidation area will more than likely end up being a selling opportunity given enough time and on signs of exhaustion. On a break down below the recent low, we would also be sellers of gold at that point in time.
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.
