In this video, the Trader Guy looks at the commodity, gold for the May 29th session.
Gold/USD — Gold rallied on Thursday session. This market has been in an uptrend and hence you can buy the dips at the moment. Also, the market is considered consolidating between the $1,690 level, and the $1,750 level. A break out to the top of the consolidation is seen as a strong bullish move. Both the Fed and the ECB are contributing for higher gold prices as they are doing quantitative easing. Hence, look for higher prices in gold.