Gold markets rose on Monday as the continuing drama coming out of Europe goes back and forth. As the Situation is so fluid, many traders are starting to
Gold markets rose on Monday as the continuing drama coming out of Europe goes back and forth. As the Situation is so fluid, many traders are starting to buy gold again as a safety trade, in case of some kind of massive blow up coming out of the EU during the week. The markets have been very generous to the EU in its patience, but it certainly needs to come up with something on Wednesday, the “extended” deadline for finding a solution – or things could get ugly. The gold markets benefit from the falling Dollar, and has gotten a boost from that during the Monday session as well. We still like buying dips above $1,600.
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.
