Gold markets fell slightly during the day on Thursday, as we continue to grind sideways overall with the longer-term downward bias. I still believe that
Gold markets fell slightly during the day on Thursday, as we continue to grind sideways overall with the longer-term downward bias. I still believe that we are going to reach towards the $1100 level below, and then eventually the $1000 handle. I think rallies at this point will more than likely be selling opportunities, and that the $1200 level will offer a bit of a ceiling as the US dollar has been strengthening. With this, I am a seller in a seller only when it comes to the gold markets, as the US dollar looks set to benefit from ECB quantitative easing.
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.
