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.
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.
