The gold markets fell rather drastically during the session on Thursday, in yet another volatile trading day. The gold market is losing some of its shine
The gold markets fell rather drastically during the session on Thursday, in yet another volatile trading day. The gold market is losing some of its shine as people eliminate the “fear trade” from their portfolios. However, we still see quite a bit of support below, and at this point time or not ready to start selling gold quite yet. In fact, we look at this is a long-term holding and believe that the $1500 level should be massively supportive. We will wait until we get down to that level to make some type of trade, and if we get a supportive candle, we also expect it to be a long-term trade.
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.
