Gold markets have initially pulled back just a bit to test the $1800 level, only to turn around and show signs of life. That being said, the market is likely to look at the $1815 level as important in the futures market, and if we can break above there then we have to deal with the 200 Day EMA. Once we get through all that, the market would then enter a nice bullish run.
Keep in mind that the CPI figures come out on Wednesday, which will have a lot to do with what happens in the Federal Reserve monetary policy setup. If they continue to be very hawkish, then it’s likely that gold will pay the price. On the other hand, if CPI comes in much lower than anticipated, we could see a reaction to the upside.
Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.