By FXEmpire.com
The gold markets fell hard during the session on Thursday as the fear trade came back on. The economic numbers out of several countries came in weak, and as such the US dollar got a boost again. As the gold markets are priced in Dollars, this will normally be the correlation. However, both can rise at the same time as well, so caution is suggested if you are thinking about shorting gold at this point. In fact, we see the pullbacks and falls as potential buying opportunities. Until we break the $1,500 level to the downside, we are only buying when there is support, and more importantly – supportive candles.
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Originally posted here
