Gold markets rallied during the day on Monday, reaching towards the $1260 level. If we can break down to a fresh, new high, and up sensibly the $1265
Gold markets rallied during the day on Monday, reaching towards the $1260 level. If we can break down to a fresh, new high, and up sensibly the $1265 handle, I am more than willing to serve buying again as we should reach towards the $1300 level. In the meantime, short-term pullbacks should continue to offer value the traders will take advantage of as we have seen so much in the way of strength going forward. Longer-term, gold has a bright future, but we are going to see volatility occasionally. Ultimately, I believe that the $1240 level should offer support.
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.