The gold markets did very little during the session on Wednesday as we ended up gaining just a bit over $2.00 by the end of the session. However, we are
The gold markets did very little during the session on Wednesday as we ended up gaining just a bit over $2.00 by the end of the session. However, we are currently building support at an area that had been the site of a gap back in late August, as well as the psychologically significant $1650 level. Because of this, and the fact that we have a longer-term bias to the upside in this market we are more than willing to buy the first sign of strength that we see going forward. As far as selling is concerned, we have no interest in doing so at this point time as we still think that over the long term gold will continue much higher.
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.
