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.
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.
