The gold markets had a very quiet session on Friday as the market simply consolidated. We finished basically unchanged, but we are sitting at the 1780
The gold markets had a very quiet session on Friday as the market simply consolidated. We finished basically unchanged, but we are sitting at the 1780 area, which of course has been the most recent resistance.
We can see now that the $1740 level looks very supportive, and as such we think that this market does in fact go higher. We think it’s only a matter of time before we see the $1800 level, and as such on a break of the Friday highs, we are willing to go long gold in various forms.
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.
