Gold markets initially rallied on Friday, reaching towards the $1355 level. We pulled back from there to reach towards the $1345 level underneath, which
Gold markets initially rallied on Friday, reaching towards the $1355 level. We pulled back from there to reach towards the $1345 level underneath, which now is acting as support. I believe it’s only a matter of time before the buyers come back, as gold markets continue to look very bullish. Ultimately, the US dollar got a bit of a bit during the day on Friday, perhaps in profit taking moves, but this should only end up offering value in the gold markets, as well as other precious metals. With this in mind, I’m a buyer in small increments as this helps “dollar cost average” your position forward.
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.
