Gold markets fell again during the course of the day on Monday, breaking below the $1140 level. Ultimately, the market should continue to go much lower,
Gold markets fell again during the course of the day on Monday, breaking below the $1140 level. Ultimately, the market should continue to go much lower, so we believe that this market can be sold now. Bounces from here should have plenty of resistance above, and at this point in time the market will probably continue to be soft, but ultimately we feel it is only a matter of time before the market changes direction again and again. This is a market that will be very volatile due to the fact that the US dollar is starting to show signs of volatility as well.
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.
