Gold markets fell rather hard during the course of the session on Tuesday, testing the $1070 level. That’s an area that has been supportive in the past,
Gold markets fell rather hard during the course of the session on Tuesday, testing the $1070 level. That’s an area that has been supportive in the past, but if we can get below there, the market should then be free to go much lower, perhaps reaching down to the $1000 level. Rallies at this point in time should be opportunities to sell gold as well, as is market is most certainly broken, and the US dollar looks to strengthen in the near term as far as we can see. We believe gold will eventually reach the aforementioned $1000 level.
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.
