Gold markets rose during the Wednesday session as the world continues to focus upon the issues in the EU over debt, banks, and general uncertainty. The
Gold markets rose during the Wednesday session as the world continues to focus upon the issues in the EU over debt, banks, and general uncertainty. The gold market appears to be set to rally from the “safe haven” angle, and after the Tuesday breakout, we are buying dips and new highs. It appears that the buy signal was confirmed during the session on Wednesday, so we are decidedly long of gold at this point. We think this market returns to the highs, especially as the EU “solution” is lacking real details at the time of this writing. $1,700 should be a bit of a floor at this point.
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.
