Gold markets had a positive session on Friday, gaining 0.9% by the time the markets closed. It does look like we are trying to break out to the upside,
Gold markets had a positive session on Friday, gaining 0.9% by the time the markets closed. It does look like we are trying to break out to the upside, and we see the $1260 level as being crucial for the buyers to overcome. If they can do so, this market should continue higher, and as a result probably trying to reach the top of the previous consolidation area, which can be found at the $1360 level. With that being the case, we are bullish of this market, but only on a daily close above the aforementioned $1260 handle.
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.
