Gold markets fell again on Thursday, as we are trying to break down below the $1200 handle. If we can close below there at the end of the session, it
Gold markets fell again on Thursday, as we are trying to break down below the $1200 handle. If we can close below there at the end of the session, it should signal that we are going to go lower. We have formed a bit of a negative turn around at the 38.2% Fibonacci retracement, so I believe a given enough time we will go lower. Pay attention to the US dollar, because it of course works against the value of gold over the longer term. Ultimately, I believe volatility will be a mainstay of this market.
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.
