Gold markets as you can see initially tried to fall during the session on Monday, but found enough support at the $1180 level to turn things back around
Gold markets as you can see initially tried to fall during the session on Monday, but found enough support at the $1180 level to turn things back around and break above the $1200 level. However, there is a significant amount of resistance just above here, so we feel that at best this market probably just going to meander around this area. We have no interest in trading the gold markets at the moment, and believe that it’s only a matter of time before we get a little bit more clarity. Until then though, we are on the sidelines as far as gold is concerned.
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.
