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Gold's outlook remains bleak

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Gold has been moving sideways throughout much of December, but at the current price level of around $1070 per ounce it essentially holds near the multi-year lows it hit earlier this month. This is hardly a bullish indication; if anything, the lack of a more significant bounce here is quite bearish. Gold’s hesitation to go further lower has coincided with the dollar heading generally lower this month. That’s despite the fact the Federal Reserve has finally lifted US interest rates for the first

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