The gold markets rose slightly during the Monday session, but found a bit of volatility during the trading hours. Because of this, we don't see a whole
The gold markets rose slightly during the Monday session, but found a bit of volatility during the trading hours. Because of this, we don’t see a whole lot of short-term certainty, but we do recognize the $1700 level as significant support. Because of this, we are perfectly comfortable going long and adding a position on at this point time. We think that consolidation between $1700 and $1750 is very likely going forward. With this in mind, we do recognize the fact that there is indeed a bullish bias to gold, and as such will not sell it.
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.
