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.
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.
