Gold markets have been highly volatile of late and have generally trended in a negative direction.
One of the main factors working against gold recently has been the strength of the US dollar, and this must be considered in any analysis of the market. Additionally, it is important to keep an eye on interest rates, as they have been rising rapidly over the past couple of weeks, particularly in the 2-year market, which is something that the
closely monitors. As bond traders continue to anticipate inflationary concerns, gold may experience further difficulties.In the longer term, the market must eventually stabilize, but it is worth noting that a significant clue was given near the $1900 level, as multiple inverted hammers formed in a row before eventually breaking down.
This occurred after a massive two-day selloff with significant momentum. At present, gold must decide whether it can remain above $1800, as a failure to do so could indicate more trouble for the market.of late and have generally trended in a negative direction. The next few days will be crucial in determining whether this trend continues. Because of this, I would be very cautious with my position size, but I would not hesitate to add to a position if we do in fact start to rally from here.
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