By FXEmpire.com
The gold markets rose on Friday as the bounce continued to move the market higher. The $1,650 level has held as support, and we think this market runs back to the $1,700 level as a target. The central banks around the world continue to ease monetary policy, and as a result fiat currencies should continue to lose ground to precious metals, and gold in particular. Also, with the central banks being net buyers of gold will certainly push prices higher as well. With this being said, we are willing to add to our long positions at present levels. The market is a buy only one, and looks like we are primed to continue higher in short order as well.
Gold Forecast April 2, 2012, Technical Analysis
Originally posted here
