Gold markets fell again on Thursday, sending this market down to the $1125 level. Rallies at this point in time should be selling opportunities on signs
Gold markets fell again on Thursday, sending this market down to the $1125 level. Rallies at this point in time should be selling opportunities on signs of exhaustion, as the US dollar will continue to strengthen due to interest-rate hikes. I have no interest in buying this market, and believe that every time we rally it’s essentially offering “value” in the US dollar. With this, I feel that the market will probably eventually try to reach down to the $1100 level, and then possibly the $1000 level underneath there. It seems as if buying is all but impossible.
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.
