Gold Weekly Price Analysis – Gold Drifts Slightly Lower for the Week

From fxempire.com

The gold market fell a bit during the trading week in what would be shorter trading. There was the Juneteenth holiday on Friday, so that of course came into the picture as well. But now, I’m watching the $4,000 level very closely. I think that’s an area that you need to be very cautious with. It should, at least in theory, be supported, but if it were to give way to selling pressure, the gold market could really roll over and continue to fall, perhaps down to the $3,500 level. Technical Levels and Macro Drivers for Gold: A drop to the $4,000 level, at least in theory, should find buyers. But if we were to turn ... (full story)