Gold Forecast December 5th, 2011, Technical Analysis

Gold markets gained a bit on Friday as traders continue to push the envelope of the “risk on” trade. The recent move has been strong, and the candle did fizzle a bit towards the end of the session. With this in mind, it looks likely that we are about to see a pullback in this market. As far as we are concerned, this is good news. It will allow us to buy at cheaper prices, and we are willing to buy supportive candle below as long as we are over the $1,650 level.

Gold Forecast December 5th, 2011, Technical Analysis Gold Forecast December 5th, 2011, Technical Analysis

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