Gold markets initially tried to rally during the course of the day on Thursday, but turned back around and form a bit of a shooting star. Ultimately
Gold markets initially tried to rally during the course of the day on Thursday, but turned back around and form a bit of a shooting star. Ultimately though, I believe that the real support is closer to the $1200 level, and therefore it is not until we break down below there that we feel comfortable selling. If we can break above the $1220 level, we could very well continue to go higher but this will obviously be influenced by how the US dollar reacts to the jobs number today. In other words, expect quite a bit of volatility.
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.
