Gold is Benefitting from Falling Yields Forex Gold Trading
The last three days have been very strong, and therefore I think it shows that there is plenty of momentum. However, the $1800 level is a major area to get above, and I think it would take a lot of effort to clear it. The $1800 level is a major region to pay attention to, so if we were to clear the area, gold really should take.
Regardless, it’s the interest rates that drive where we go next. If interest rates fall, and typically is good for gold and vice versa. Regardless, I think this is a situation where you need to be cautious about your, as although we have a lot of momentum in one direction, gold tends to be very volatile so I would be cautious regardless as to which direction you are trading.
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