Gold markets had a fairly quiet session on Wednesday, as we hover around the $1125 handle. I think at this point any time we rally it’s time to start
Gold markets had a fairly quiet session on Wednesday, as we hover around the $1125 handle. I think at this point any time we rally it’s time to start selling as the market has shown itself to be rather negative. The $1100 level should continue to be psychologically important, but structurally we have much more support down at the $1000 handle. Because of this, I think the longer-term downtrend continues and therefore I am essentially “sell only” when it comes to the gold markets, as the US dollar continues to punish precious metals overall.
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.
